Quantum Computing (NASDAQ:QUBT) Trading Down 6% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price was down 6% during mid-day trading on Tuesday . The company traded as low as $7.46 and last traded at $7.48. Approximately 5,517,757 shares were traded during trading, a decline of 82% from the average daily volume of 30,314,555 shares. The stock had previously closed at $7.95.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets raised their target price on shares of 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 Stock Performance

The company’s 50-day moving average price is $12.15 and its 200 day moving average price is $5.50. The stock has a market capitalization of $1.11 billion, a P/E ratio of -27.90 and a beta of 2.75.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC bought a new position in shares of Quantum Computing in the fourth quarter worth about $30,000. IFP Advisors Inc purchased a new position in Quantum Computing in the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new position in Quantum Computing in the 4th quarter worth approximately $33,000. Archer Investment Corp purchased a new stake in Quantum Computing during the 4th quarter valued at approximately $33,000. Finally, Hollencrest Capital Management bought a new stake in shares of Quantum Computing during the fourth quarter valued at approximately $41,000. 4.26% of the stock is owned by institutional investors.

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.