Quantum Computing (NASDAQ:QUBT) Trading Down 3.6% – Should You Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) fell 3.6% on Thursday . The company traded as low as $9.52 and last traded at $9.51. 7,146,630 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 35,086,887 shares. The stock had previously closed at $9.87.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets lifted their price objective on shares of Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a report on Wednesday, November 13th.

Quantum Computing Trading Down 2.1 %

The firm’s fifty day moving average price is $11.85 and its 200-day moving average price is $4.94. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -33.33 and a beta of 2.75.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter. The firm had revenue of $0.10 million for the quarter.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. UNICOM Systems Inc. acquired a new stake in shares of Quantum Computing in the 4th quarter worth $5,707,000. Mission Wealth Management LP acquired a new stake in shares of Quantum Computing in the 4th quarter worth $1,986,000. SBI Securities Co. Ltd. acquired a new stake in shares of Quantum Computing in the 4th quarter worth $1,602,000. Focus Financial Network Inc. acquired a new stake in shares of Quantum Computing in the 4th quarter worth $1,536,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Quantum Computing in the 4th quarter worth $1,255,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

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.