Quantum Computing (NASDAQ:QUBT) Sees Unusually-High Trading Volume – What’s Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) saw unusually-strong trading volume on Wednesday . Approximately 9,843,082 shares were traded during trading, an increase of 57% from the previous session’s volume of 6,260,383 shares.The stock last traded at $6.28 and had previously closed at $7.62.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets raised their price objective on shares of 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 company has a market capitalization of $635.81 million, a price-to-earnings ratio of -21.03 and a beta of 3.07. The firm has a 50-day moving average price of $2.88 and a two-hundred day moving average price of $1.43.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.18 million for the quarter.

Institutional Trading of Quantum Computing

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC raised its position in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Quantum Computing by 10.5% in the 3rd 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. Finally, XTX Topco Ltd acquired a new stake in Quantum Computing in the 3rd quarter valued at about $46,000. 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.