Quantum Computing (NASDAQ:QUBT) Sees Unusually-High Trading Volume – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT) shares saw strong trading volume on Monday . 26,022,615 shares traded hands during trading, an increase of 443% from the previous session’s volume of 4,789,985 shares.The stock last traded at $7.64 and had previously closed at $6.10.

Wall Street Analyst Weigh In

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

Quantum Computing Stock Up 22.3 %

The stock has a market cap of $762.56 million, a P/E ratio of -26.34 and a beta of 1.64. The business has a 50-day simple moving average of $1.35 and a 200-day simple moving average of $0.90.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC lifted its stake in shares of Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after buying an additional 47,880 shares during the period. Geode Capital Management LLC raised its holdings in Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after acquiring an additional 65,486 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Quantum Computing in the 3rd quarter worth approximately $46,000. TRUE Private Wealth Advisors grew its holdings in shares of Quantum Computing by 318.1% during the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after purchasing an additional 50,000 shares in the last quarter. Finally, PEAK6 Investments LLC bought a new stake in shares of Quantum Computing during the first quarter valued at approximately $129,000. 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.