Quantum Computing (NASDAQ:QUBT) Shares Down 3.2% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price fell 3.2% during trading on Wednesday . The company traded as low as $11.13 and last traded at $11.12. 20,449,636 shares changed hands during trading, a decline of 58% from the average session volume of 48,938,191 shares. The stock had previously closed at $11.49.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets lifted their price objective 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 Price Performance

The firm has a market cap of $1.41 billion, a P/E ratio of -37.69 and a beta of 2.83. The company’s 50-day moving average is $10.90 and its two-hundred day moving average is $4.32.

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

Institutional Investors Weigh In On Quantum Computing

A number of large investors have recently modified their holdings of QUBT. Flagship Harbor Advisors LLC acquired a new stake in Quantum Computing in the fourth quarter valued at about $199,000. Sovereign Financial Group Inc. bought a new stake in shares of Quantum Computing during the 4th quarter valued at approximately $209,000. Diversify Wealth Management LLC acquired a new position in Quantum Computing during the 4th quarter worth approximately $331,000. Veracity Capital LLC bought a new position in Quantum Computing in the 4th quarter valued at approximately $343,000. Finally, SG Americas Securities LLC acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $626,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

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.