Quantum Computing (NASDAQ:QUBT) Stock Price Down 6.5% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price fell 6.5% during trading on Monday . The stock traded as low as $4.64 and last traded at $4.71. 2,163,539 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 14,400,960 shares. The stock had previously closed at $5.03.

Analyst Ratings Changes

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

Quantum Computing Price Performance

The stock’s fifty day moving average is $9.53 and its 200-day moving average is $6.01. The stock has a market cap of $648.84 million, a PE ratio of -16.31 and a beta of 3.26.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in Quantum Computing in the third quarter valued at $46,000. Geode Capital Management LLC raised its holdings in shares of Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after buying an additional 65,486 shares during the period. Virtu Financial LLC lifted its stake in 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. Sovereign Financial Group Inc. purchased a new position in Quantum Computing during the 4th quarter valued at about $209,000. Finally, Diversify Wealth Management LLC acquired a new position in Quantum Computing in the 4th quarter valued at about $331,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.