Quantum Computing (NASDAQ:QUBT) Shares Down 7.3% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT) traded down 7.3% on Monday . The company traded as low as $9.75 and last traded at $10.13. 8,102,317 shares were traded during 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 increased their price target on 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 Stock Performance

The firm’s fifty day moving average price is $11.05 and its 200 day moving average price is $4.45. The firm has a market cap of $1.27 billion, a P/E ratio of -33.84 and a beta of 2.83.

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

Hedge Funds Weigh In On Quantum Computing

Large investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC bought a new stake in shares of Quantum Computing in the 4th quarter valued at about $1,255,000. Flagship Harbor Advisors LLC purchased a new position in Quantum Computing in the fourth quarter worth $199,000. Veracity Capital LLC purchased a new position in Quantum Computing in the fourth quarter worth $343,000. Janney Montgomery Scott LLC acquired a new position in shares of Quantum Computing during the fourth quarter worth $786,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Quantum Computing during the 4th quarter valued at $626,000. 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.