Quantum Computing (NASDAQ:QUBT) Sees Strong Trading Volume – Here’s Why

Quantum Computing Inc. (NASDAQ:QUBT) shares saw strong trading volume on Tuesday . 4,825,476 shares traded hands during mid-day trading, a decline of 16% from the previous session’s volume of 5,772,258 shares.The stock last traded at $5.55 and had previously closed at $6.11.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets upped their price objective 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.

Quantum Computing Stock Down 0.8 %

The business has a 50-day moving average price of $2.09 and a 200-day moving average price of $1.16. The firm has a market capitalization of $619.45 million, a P/E ratio of -19.21 and a beta of 3.07.

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

Institutional Investors Weigh In On Quantum Computing

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd acquired a new stake in Quantum Computing in the third quarter worth about $46,000. Geode Capital Management LLC raised its holdings in 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 during the period. TRUE Private Wealth Advisors lifted its position in 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 acquiring an additional 50,000 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in Quantum Computing by 377.7% in 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. 4.26% of the stock is owned by institutional investors and hedge funds.

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.