Quantum Computing (NASDAQ:QUBT) Stock Price Down 9.5% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded down 9.5% during mid-day trading on Thursday . The company traded as low as $10.38 and last traded at $10.45. 66,737,379 shares changed hands during trading, an increase of 38% from the average session volume of 48,238,301 shares. The stock had previously closed at $11.55.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lifted 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 Down 9.7 %

The business has a fifty day moving average of $10.22 and a 200 day moving average of $4.03. The firm has a market cap of $1.27 billion, a P/E ratio of -33.90 and a beta of 2.83.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Virtu Financial LLC boosted its position in Quantum Computing by 377.7% during the third 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. XTX Topco Ltd bought a new stake in shares of Quantum Computing during the 3rd quarter worth about $46,000. Sovereign Financial Group Inc. acquired a new position in Quantum Computing in the 4th quarter valued at about $209,000. Diversify Wealth Management LLC acquired a new position in Quantum Computing in the 4th quarter valued at about $331,000. Finally, Veracity Capital LLC bought a new position in Quantum Computing in the 4th quarter valued at about $343,000. 4.26% of the stock is 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.