Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT) gapped down before the market opened on Monday . The stock had previously closed at $9.28, but opened at $9.00. Quantum Computing shares last traded at $9.01, with a volume of 3,372,945 shares changing hands.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets increased their price objective 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 Performance

The company’s fifty day simple moving average is $12.03 and its two-hundred day simple moving average is $5.20.

Institutional Investors Weigh In On Quantum Computing

Institutional investors and hedge funds have recently bought and sold shares of the stock. Archer Investment Corp purchased a new position in Quantum Computing during the 4th quarter worth $33,000. IFP Advisors Inc bought a new position in shares of Quantum Computing during the fourth quarter valued at about $33,000. Farther Finance Advisors LLC purchased a new position in Quantum Computing during the fourth quarter worth about $33,000. Virtu Financial LLC grew its position in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after purchasing an additional 47,880 shares in the last quarter. Finally, Hollencrest Capital Management purchased a new stake in Quantum Computing in the 4th quarter valued at about $41,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.