Quantum Computing (NASDAQ:QUBT) Trading 9.3% Higher – Time to Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) rose 9.3% during trading on Tuesday . The company traded as high as $11.20 and last traded at $10.74. Approximately 20,839,607 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 49,300,105 shares. The stock had previously closed at $9.83.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lifted their price objective on shares of 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 Trading Up 15.1 %

The company has a market cap of $1.46 billion, a price-to-earnings ratio of -38.54 and a beta of 2.83. The firm’s fifty day moving average price is $10.39 and its 200-day moving average price is $4.15.

Institutional Investors Weigh In On Quantum Computing

Large investors have recently modified their holdings of the business. Sovereign Financial Group Inc. acquired a new position in shares of Quantum Computing in the 4th quarter valued at approximately $209,000. Diversify Wealth Management LLC acquired a new stake in shares of Quantum Computing in the 4th quarter valued at about $331,000. Veracity Capital LLC bought a new stake in shares of Quantum Computing in the fourth quarter valued at about $343,000. SG Americas Securities LLC acquired a new position in shares of Quantum Computing during the fourth quarter worth about $626,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of Quantum Computing during the fourth quarter worth about $786,000. 4.26% of the stock is currently owned by 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.