Quantum Computing (NASDAQ:QUBT) Shares Gap Down – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT) gapped down before the market opened on Monday . The stock had previously closed at $8.98, but opened at $8.01. Quantum Computing shares last traded at $7.97, with a volume of 6,295,023 shares trading hands.

Analyst Upgrades and Downgrades

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

Quantum Computing Stock Up 14.0 %

The firm’s 50-day moving average price is $9.66 and its two-hundred day moving average price is $3.86. The firm has a market capitalization of $958.19 million, a PE ratio of -25.62 and a beta of 2.83.

Hedge Funds Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its holdings 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 purchasing an additional 47,880 shares in the last quarter. XTX Topco Ltd purchased a new stake in Quantum Computing in the 3rd quarter worth about $46,000. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing during the 4th quarter worth about $209,000. Finally, Geode Capital Management LLC grew its stake in Quantum Computing by 10.5% during 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. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

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.