Quantum Computing (NASDAQ:QUBT) Trading 19.6% Higher – Here’s What Happened

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded up 19.6% on Monday . The stock traded as high as $8.57 and last traded at $8.48. 44,944,208 shares were traded during mid-day trading, an increase of 202% from the average session volume of 14,870,732 shares. The stock had previously closed at $7.09.

Quantum Computing Trading Up 16.6 %

The firm has a market capitalization of $1.13 billion, a PE ratio of -28.84 and a beta of 3.26. The company has a fifty day moving average price of $8.59 and a two-hundred day moving average price of $6.15.

Hedge Funds Weigh In On Quantum Computing

Institutional investors have recently added to or reduced their stakes in the stock. UNICOM Systems Inc. acquired a new position in Quantum Computing in the 4th quarter valued at about $5,707,000. SBI Securities Co. Ltd. acquired a new position in Quantum Computing during the 4th quarter worth approximately $1,602,000. SG Americas Securities LLC acquired a new position in Quantum Computing during the 4th quarter worth approximately $626,000. 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 purchasing an additional 47,880 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in Quantum Computing during the 4th quarter worth approximately $786,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

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.