Quantum Computing (NASDAQ:QUBT) Trading Down 4.7% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price was down 4.7% during mid-day trading on Friday . The stock traded as low as $6.15 and last traded at $6.43. Approximately 4,678,674 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 5,625,541 shares. The stock had previously closed at $6.75.

Analysts Set New Price Targets

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

Quantum Computing Stock Up 5.0 %

The stock’s fifty day simple moving average is $1.85 and its 200-day simple moving average is $1.07. The company has a market capitalization of $724.74 million, a PE ratio of -23.28 and a beta of 1.64.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.18 million for the quarter.

Institutional Investors Weigh In On Quantum Computing

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC increased its stake in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares during the last quarter. TRUE Private Wealth Advisors raised its stake in shares of Quantum Computing by 318.1% in the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock valued at $33,000 after purchasing an additional 50,000 shares in the last quarter. XTX Topco Ltd bought a new position in Quantum Computing during the 3rd quarter worth approximately $46,000. PEAK6 Investments LLC acquired a new stake in shares of Quantum Computing during the 1st quarter valued at approximately $129,000. Finally, Geode Capital Management LLC boosted its holdings in Quantum Computing by 10.5% in the third 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 during the period. 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.