Quantum Computing (NASDAQ:QUBT) Trading Up 2.2% – What’s Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) were up 2.2% during trading on Thursday . The stock traded as high as $8.47 and last traded at $8.45. Approximately 4,689,934 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 31,516,100 shares. The stock had previously closed at $8.26.

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 Trading Up 0.7 %

The company’s fifty day moving average is $12.06 and its 200-day moving average is $5.22. The firm has a market capitalization of $1.14 billion, a P/E ratio of -28.88 and a beta of 2.75.

Hedge Funds Weigh In On Quantum Computing

Large investors have recently bought and sold shares of the stock. UNICOM Systems Inc. acquired a new position in Quantum Computing during the 4th quarter valued at $5,707,000. SG Americas Securities LLC acquired a new position in Quantum Computing during the 4th quarter valued at $626,000. Virtu Financial LLC raised its stake 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 purchasing an additional 47,880 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Quantum Computing during the 4th quarter valued at $786,000. Finally, Heck Capital Advisors LLC acquired a new position in Quantum Computing during the 4th quarter valued at $1,255,000. 4.26% of the stock is currently 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.