Quantum Computing (NASDAQ:QUBT) Shares Down 7.3% – Time to Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) traded down 7.3% during mid-day trading on Monday . The company traded as low as $9.75 and last traded at $10.13. 8,102,317 shares were traded during mid-day trading, a decline of 82% from the average session volume of 44,557,258 shares. The stock had previously closed at $10.93.

Analyst Upgrades and Downgrades

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

Quantum Computing Stock Performance

The company has a 50 day moving average price of $11.36 and a 200 day moving average price of $4.58. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -34.93 and a beta of 2.83.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter. The business had revenue of $0.10 million during the quarter.

Institutional Investors Weigh In On Quantum Computing

Large investors have recently modified their holdings of the company. UNICOM Systems Inc. acquired a new stake in Quantum Computing in the fourth quarter valued at $5,707,000. Focus Financial Network Inc. acquired a new stake in shares of Quantum Computing during the 4th quarter worth about $1,536,000. Heck Capital Advisors LLC purchased a new stake in Quantum Computing during the fourth quarter worth approximately $1,255,000. XTX Topco Ltd acquired a new position in Quantum Computing in the third quarter valued at approximately $46,000. Finally, Geode Capital Management LLC raised its holdings 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 purchasing an additional 65,486 shares in the last quarter. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.