Quantum Computing (NASDAQ:QUBT) Trading Down 8.8% – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded down 8.8% during trading on Tuesday . The company traded as low as $5.15 and last traded at $5.57. 12,219,131 shares traded hands during mid-day trading, an increase of 110% from the average session volume of 5,808,303 shares. The stock had previously closed at $6.11.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets increased their price objective 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 company has a market capitalization of $632.74 million, a P/E ratio of -19.21 and a beta of 3.07. The company’s 50-day moving average price is $2.09 and its two-hundred day moving average price is $1.16.

Quantum Computing (NASDAQ:QUBT) last posted its 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 large investors have recently modified their holdings of QUBT. TRUE Private Wealth Advisors increased its stake in Quantum Computing by 318.1% in the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock valued at $33,000 after acquiring an additional 50,000 shares during the last quarter. Virtu Financial LLC grew its position 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 acquiring an additional 47,880 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Quantum Computing in the third quarter worth about $46,000. Finally, Geode Capital Management LLC boosted its stake 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 in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

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.