Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $11.10, but opened at $10.72. Quantum Computing shares last traded at $11.43, with a volume of 6,678,258 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets increased their target price on 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 Price Performance

The company’s 50-day moving average price is $11.05 and its 200-day moving average price is $4.39.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter. The company had revenue of $0.10 million during the quarter.

Institutional Investors Weigh In On Quantum Computing

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in shares of Quantum Computing during the 3rd quarter valued at approximately $46,000. Geode Capital Management LLC boosted its position in shares of Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after buying an additional 65,486 shares during the period. Virtu Financial LLC boosted its holdings in Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after acquiring an additional 47,880 shares during the period. Sovereign Financial Group Inc. acquired a new position in shares of Quantum Computing in the fourth quarter valued at approximately $209,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of Quantum Computing during the fourth quarter worth about $331,000. 4.26% of the stock is currently owned by hedge funds and other 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.