Quantum Computing (NASDAQ:QUBT) Shares Up 0.5% – Still a Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price was up 0.5% during mid-day trading on Thursday . The company traded as high as $11.94 and last traded at $11.15. Approximately 11,280,684 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 47,241,102 shares. The stock had previously closed at $11.10.

Wall Street Analyst Weigh In

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 report on Wednesday, November 13th.

Quantum Computing Stock Down 3.3 %

The company has a 50-day moving average of $10.76 and a 200 day moving average of $4.27. The stock has a market capitalization of $1.38 billion, a PE ratio of -36.99 and a beta of 2.83.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter. The business had revenue of $0.10 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Quantum Computing during the 4th quarter worth approximately $199,000. Sovereign Financial Group Inc. acquired a new position in Quantum Computing in the 4th quarter valued at $209,000. Diversify Wealth Management LLC acquired a new position in Quantum Computing in the 4th quarter valued at $331,000. Veracity Capital LLC acquired a new position in Quantum Computing in the 4th quarter valued at $343,000. Finally, SG Americas Securities LLC acquired a new position in Quantum Computing in the 4th quarter valued at $626,000. Hedge funds and other 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.