Quantum Computing (NASDAQ:QUBT) Trading Up 0.2% – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT) traded up 0.2% during mid-day trading on Friday . The stock traded as high as $6.53 and last traded at $6.37. 5,881,448 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 6,401,294 shares. The stock had previously closed at $6.36.

Analyst Upgrades and Downgrades

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 Price Performance

The business has a 50 day moving average of $3.11 and a 200 day moving average of $1.50. The firm has a market capitalization of $677.72 million, a price-to-earnings ratio of -21.97 and a beta of 3.11.

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

Institutional Trading of Quantum Computing

A number of large investors have recently bought and sold shares of QUBT. Geode Capital Management LLC increased its stake in 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. XTX Topco Ltd acquired a new stake in Quantum Computing in the 3rd quarter valued at about $46,000. Finally, Virtu Financial LLC increased its holdings in shares of Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares during the last quarter. 4.26% of the stock is currently 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.