Quantum Computing (NASDAQ:QUBT) Shares Down 4% – Time to Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) were down 4% during mid-day trading on Monday . The company traded as low as $7.78 and last traded at $7.95. Approximately 12,497,404 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 32,462,944 shares. The stock had previously closed at $8.28.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets upped their price objective on Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Quantum Computing Trading Down 4.0 %

The firm has a market cap of $1.09 billion, a P/E ratio of -27.41 and a beta of 2.75. The stock has a 50 day simple moving average of $12.08 and a 200-day simple moving average of $5.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers bought a new position in Quantum Computing during the fourth quarter valued at $584,000. Bank of America Corp DE raised its holdings in Quantum Computing by 67,931.3% during the 4th quarter. Bank of America Corp DE now owns 367,369 shares of the company’s stock valued at $6,080,000 after buying an additional 366,829 shares during the period. Ameriprise Financial Inc. purchased a new position in Quantum Computing during the fourth quarter worth $712,000. Alyeska Investment Group L.P. bought a new position in Quantum Computing during the fourth quarter valued at $69,613,000. Finally, Anson Funds Management LP bought a new stake in shares of Quantum Computing in the 4th quarter worth about $70,006,000. 4.26% of the stock is 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.