Quantum Computing (NASDAQ:QUBT) Stock Price Up 7.2% – Time to Buy?

Quantum Computing Inc. (NASDAQ:QUBTGet Free Report)’s share price traded up 7.2% during trading on Monday . The company traded as high as $19.95 and last traded at $18.88. 36,343,319 shares were traded during mid-day trading, an increase of 278% from the average session volume of 9,624,486 shares. The stock had previously closed at $17.62.

Analyst Ratings Changes

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

Get Our Latest Research Report on QUBT

Quantum Computing Trading Up 1.0 %

The company has a market capitalization of $2.12 billion, a PE ratio of -61.38 and a beta of 3.11. The firm has a 50 day simple moving average of $4.89 and a two-hundred day simple moving average of $2.13.

Quantum Computing (NASDAQ:QUBTGet Free Report) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.

Institutional Investors Weigh In On Quantum Computing

Hedge funds have recently added to or reduced their stakes in the company. 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 buying an additional 65,486 shares in the last quarter. XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter worth $46,000. Finally, Virtu Financial LLC grew its holdings in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares during the period. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Company Profile

(Get Free Report)

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.

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