Quantum Computing (NASDAQ:QUBT) Shares Gap Up – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT) shares gapped up prior to trading on Monday . The stock had previously closed at $6.71, but opened at $7.10. Quantum Computing shares last traded at $7.78, with a volume of 9,559,687 shares changing hands.

Analyst Ratings Changes

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

Quantum Computing Trading Up 31.6 %

The stock has a market cap of $902.60 million, a P/E ratio of -29.17 and a beta of 3.11. The firm has a 50-day simple moving average of $3.23 and a two-hundred day simple moving average of $1.55.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC increased its position 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 buying an additional 47,880 shares during the period. XTX Topco Ltd bought a new position in Quantum Computing during the 3rd quarter worth $46,000. Finally, Geode Capital Management LLC increased its position in shares of Quantum Computing by 10.5% in 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 during the period. Institutional investors own 4.26% of the company’s stock.

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.