Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report)’s stock price fell 7.3% during mid-day trading on Thursday . The company traded as low as $7.69 and last traded at $7.76. 12,364,477 shares changed hands during trading, a decline of 20% from the average session volume of 15,465,763 shares. The stock had previously closed at $8.37.
Quantum Computing Trading Down 14.0 %
The stock has a 50 day moving average of $8.19 and a 200-day moving average of $6.27. The company has a market capitalization of $986.98 million, a P/E ratio of -24.73 and a beta of 3.26.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. UNICOM Systems Inc. bought a new position in shares of Quantum Computing during the 4th quarter valued at approximately $5,707,000. SBI Securities Co. Ltd. purchased a new stake in Quantum Computing during the 4th quarter valued at $1,602,000. SG Americas Securities LLC purchased a new stake in Quantum Computing during the 4th quarter valued at $626,000. Virtu Financial LLC raised 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 buying an additional 47,880 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new stake in Quantum Computing during the 4th quarter valued at $786,000. 4.26% of the stock is currently owned by 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.
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