Quantum Computing (NASDAQ:QUBT) Trading Down 1.5% – What’s Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) traded down 1.5% during trading on Monday . The company traded as low as $17.15 and last traded at $17.24. 24,990,518 shares were traded during mid-day trading, an increase of 13% from the average session volume of 22,122,840 shares. The stock had previously closed at $17.50.

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 company a “buy” rating in a research report on Wednesday, November 13th.

Quantum Computing Stock Up 1.5 %

The company has a market cap of $2.29 billion, a P/E ratio of -61.24 and a beta of 2.83. The company has a fifty day moving average of $8.25 and a 200 day moving average of $3.34.

Institutional Investors Weigh In On Quantum Computing

A number of large investors have recently made changes to their positions in QUBT. XTX Topco Ltd purchased a new stake in Quantum Computing during the third quarter valued at approximately $46,000. Geode Capital Management LLC increased its stake 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 worth $449,000 after purchasing an additional 65,486 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings 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 during the period. 4.26% of the stock is currently owned by 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.