Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report)’s stock price traded down 49.9% on Wednesday . The stock traded as low as $8.75 and last traded at $8.77. 41,058,118 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 32,686,193 shares. The stock had previously closed at $17.49.
Analyst Upgrades and Downgrades
Separately, Ascendiant Capital Markets boosted their target price on Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.
Read Our Latest Stock Analysis on Quantum Computing
Quantum Computing Price Performance
Hedge Funds Weigh In On Quantum Computing
A number of hedge funds have recently modified their holdings of QUBT. 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 worth $40,000 after purchasing an additional 47,880 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Quantum Computing during the third quarter worth $46,000. Finally, Geode Capital Management LLC raised its stake in Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after buying an additional 65,486 shares during the last quarter. Institutional investors and hedge funds 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.
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