Quantum Computing (NASDAQ:QUBT) Trading Down 4% – Here’s What Happened

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price traded down 4% on Monday . The stock traded as low as $7.78 and last traded at $7.95. 12,497,404 shares changed hands during trading, a decline of 62% from the average session volume of 32,462,944 shares. The stock had previously closed at $8.28.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets boosted their price target on Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

Quantum Computing Price Performance

The business’s 50-day moving average is $12.09 and its 200 day moving average is $5.46. The firm has a market capitalization of $1.09 billion, a P/E ratio of -27.45 and a beta of 2.75.

Hedge Funds Weigh In On Quantum Computing

Several hedge funds and other institutional investors have recently modified their holdings of the business. UNICOM Systems Inc. acquired a new stake in shares of Quantum Computing in the 4th quarter valued at approximately $5,707,000. SG Americas Securities LLC bought a new position in Quantum Computing in the 4th quarter valued at approximately $626,000. Virtu Financial LLC boosted its position in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after buying an additional 47,880 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Quantum Computing during the fourth quarter worth $786,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Quantum Computing during the fourth quarter worth $1,255,000. Institutional investors own 4.26% of the company’s stock.

About Quantum Computing

Quantum Computing Inc, an integrated photonics company, offers accessible and affordable quantum machines. The company offers Dirac systems are portable, low power, and room temperature qubit and qudit entropy quantum computers (EQC); reservoir computing; remote sensing; and single photon imaging. It also provides Quantum random number generator (uQRNG), a portable device that provides genuine random numbers directly from quantum processes; and quantum authentication which eliminates vulnerabilities inherent in classical cryptographic schemes by offering a comprehensive entanglement-based quantum cyber solution that seamlessly integrates into existing telecom fiber and communication infrastructure.