Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Here’s What Happened

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $7.70, but opened at $6.42. Quantum Computing shares last traded at $6.86, with a volume of 9,613,798 shares.

Wall Street Analyst Weigh In

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

Quantum Computing Price Performance

The firm has a fifty day moving average of $1.49 and a 200 day moving average of $0.95. The stock has a market capitalization of $675.67 million, a price-to-earnings ratio of -22.79 and a beta of 1.64.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.18 million during the quarter.

Institutional Trading of Quantum Computing

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC grew its holdings in Quantum Computing by 377.7% in the third 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 period. Geode Capital Management LLC grew its holdings in Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after purchasing an additional 65,486 shares during the period. XTX Topco Ltd acquired a new stake in shares of Quantum Computing in the third quarter worth approximately $46,000. TRUE Private Wealth Advisors boosted its stake in shares of Quantum Computing by 318.1% in the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after acquiring an additional 50,000 shares during the last quarter. Finally, PEAK6 Investments LLC acquired a new stake in shares of Quantum Computing in the first quarter worth approximately $129,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Quantum Computing Company Profile

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.