Quantum Computing (NASDAQ:QUBT) Stock Price Down 4.8% – Time to Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) were down 4.8% on Monday . The stock traded as low as $9.37 and last traded at $9.88. Approximately 6,744,386 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 37,447,160 shares. The stock had previously closed at $10.38.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets lifted their target price 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 0.2 %

The company has a market capitalization of $1.27 billion, a PE ratio of -34.03 and a beta of 2.75. The firm’s 50-day moving average is $11.79 and its 200-day moving average is $4.91.

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

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors have recently made changes to their positions in the business. IFP Advisors Inc purchased a new position in Quantum Computing in the 4th quarter worth $33,000. Archer Investment Corp purchased a new position in shares of Quantum Computing in the fourth quarter worth about $33,000. SRH Advisors LLC bought a new stake in shares of Quantum Computing in the 4th quarter valued at about $69,000. Capital Advisors Inc. OK purchased a new stake in Quantum Computing during the 4th quarter valued at about $166,000. Finally, Essex Financial Services Inc. bought a new position in Quantum Computing during the 4th quarter worth approximately $174,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.