Quantum Computing (NASDAQ:QUBT) Trading Down 1.5% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT) shares dropped 1.5% during mid-day trading on Monday . The stock traded as low as $17.15 and last traded at $17.24. Approximately 24,990,518 shares traded hands during trading, an increase of 13% from the average daily volume of 22,122,840 shares. The stock had previously closed at $17.50.

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 stock a “buy” rating in a research report on Wednesday, November 13th.

Quantum Computing Trading Down 43.3 %

The company’s 50-day moving average is $9.09 and its 200-day moving average is $3.63. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -34.17 and a beta of 2.83.

Institutional Trading of Quantum Computing

Several institutional investors and hedge funds have recently modified their holdings of QUBT. Virtu Financial LLC raised its stake in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares in the last quarter. XTX Topco Ltd acquired a new position in Quantum Computing during the 3rd quarter worth approximately $46,000. Finally, Geode Capital Management LLC increased its position 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 purchasing an additional 65,486 shares in the last quarter. 4.26% of the stock is currently owned by 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.