Quantum Computing (NASDAQ:QUBT) Sees Strong Trading Volume – Here’s What Happened

Shares of Quantum Computing Inc. (NASDAQ:QUBT) saw an uptick in trading volume on Monday . 26,022,615 shares changed hands during trading, an increase of 443% from the previous session’s volume of 4,789,985 shares.The stock last traded at $7.64 and had previously closed at $6.10.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets lifted their price target on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Quantum Computing Price Performance

The firm has a fifty day moving average price of $1.35 and a 200 day moving average price of $0.90. The firm has a market capitalization of $762.56 million, a PE ratio of -26.34 and a beta of 1.64.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Virtu Financial LLC increased its stake in shares of Quantum Computing by 17.7% in the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after acquiring an additional 14,326 shares during the last quarter. TRUE Private Wealth Advisors raised its stake in shares of Quantum Computing by 318.1% during the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after purchasing an additional 50,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Quantum Computing by 10.5% during the 3rd 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. XTX Topco Ltd acquired a new stake in shares of Quantum Computing during the 3rd quarter valued at about $46,000. Finally, PEAK6 Investments LLC bought a new stake in shares of Quantum Computing in the 1st quarter valued at approximately $129,000. 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.