Quantum Computing (NASDAQ:QUBT) Sees Large Volume Increase – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT) saw strong trading volume on Monday . 17,492,854 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 19,205,738 shares.The stock last traded at $19.90 and had previously closed at $17.50.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets upped their price target on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Quantum Computing Stock Down 43.3 %

The business’s fifty day moving average is $9.09 and its two-hundred day moving average is $3.63. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -34.17 and a beta of 2.83.

Hedge Funds Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new position in Quantum Computing in the third quarter valued at $46,000. Geode Capital Management LLC raised its position in shares of Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after acquiring an additional 65,486 shares in the last quarter. Finally, Virtu Financial LLC raised its position in shares of Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

Quantum Computing Company Profile

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.