Quantum Computing (NASDAQ:QUBT) Given New $8.50 Price Target at Ascendiant Capital Markets

Quantum Computing (NASDAQ:QUBT) had its price target upped by Ascendiant Capital Markets from $8.25 to $8.50 in a research note issued to investors on Wednesday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

Quantum Computing Trading Down 29.5 %

NASDAQ QUBT opened at $3.10 on Wednesday. The stock has a fifty day simple moving average of $1.03 and a 200-day simple moving average of $0.79. The stock has a market cap of $307.18 million, a PE ratio of -10.69 and a beta of 1.64. Quantum Computing has a twelve month low of $0.35 and a twelve month high of $4.69.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.18 million for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QUBT. TRUE Private Wealth Advisors raised its holdings in shares of Quantum Computing by 318.1% in the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock valued at $33,000 after buying an additional 50,000 shares during the period. XTX Topco Ltd purchased a new stake in Quantum Computing during the third quarter worth about $46,000. Virtu Financial LLC lifted its position in shares of Quantum Computing by 17.7% during the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after purchasing an additional 14,326 shares in the last quarter. PEAK6 Investments LLC purchased a new position in shares of Quantum Computing in the first quarter valued at approximately $129,000. Finally, Geode Capital Management LLC grew its holdings in shares of Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after purchasing an additional 65,486 shares in the last quarter. 4.26% of the stock is currently 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.