Quantum Computing (NASDAQ:QUBT) Stock Price Down 4% – Time to Sell? – MarketBeat
Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report) dropped 4% on Monday . The stock traded as low as $7.78 and last traded at $7.95. Approximately 12,497,404 shares changed hands during trading, a decline of 62% from the average daily volume of 32,462,944 shares. The stock had previously closed at $8.28.
Analyst Ratings Changes
Separately, Ascendiant Capital Markets raised their price objective on Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th.
Check Out Our Latest Report on QUBT
Quantum Computing Price Performance
The stock’s 50 day simple moving average is $12.08 and its two-hundred day simple moving average is $5.36. The firm has a market cap of $1.09 billion, a P/E ratio of -27.41 and a beta of 2.75.
Institutional Investors Weigh In On Quantum Computing
Several hedge funds have recently added to or reduced their stakes in QUBT. Cetera Investment Advisers bought a new position in shares of Quantum Computing during the fourth quarter valued at $584,000. Bank of America Corp DE increased its stake in Quantum Computing by 67,931.3% during the 4th quarter. Bank of America Corp DE now owns 367,369 shares of the company’s stock valued at $6,080,000 after purchasing an additional 366,829 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in Quantum Computing during the 4th quarter valued at about $712,000. Alyeska Investment Group L.P. purchased a new position in Quantum Computing in the fourth quarter worth about $69,613,000. Finally, Anson Funds Management LP bought a new position in shares of Quantum Computing in the fourth quarter worth approximately $70,006,000. 4.26% of the stock is 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.
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