Quantum Computing (NASDAQ:QUBT) Shares Down 1.7% – Time to Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) fell 1.7% during mid-day trading on Friday . The stock traded as low as $7.84 and last traded at $7.95. 8,630,569 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 29,460,414 shares. The stock had previously closed at $8.09.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets boosted their target price 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 Stock Down 7.4 %

The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -25.83 and a beta of 2.75. The business’s fifty day moving average is $12.17 and its 200 day moving average is $5.58.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QUBT. XTX Topco Ltd acquired a new stake in Quantum Computing in the 3rd quarter valued at approximately $46,000. Geode Capital Management LLC lifted its position in 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 buying an additional 65,486 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after acquiring an additional 47,880 shares in the last quarter. Sovereign Financial Group Inc. acquired a new stake in shares of Quantum Computing in the fourth quarter valued at about $209,000. Finally, Diversify Wealth Management LLC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at about $331,000. 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.