Quantum Computing (NASDAQ:QUBT) Trading Down 20.3% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price traded down 20.3% on Monday . The stock traded as low as $6.88 and last traded at $7.16. 16,510,350 shares traded hands during trading, a decline of 53% from the average session volume of 35,120,113 shares. The stock had previously closed at $8.98.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets lifted their price objective on 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 Stock Down 26.3 %

The business’s fifty day moving average price is $9.42 and its 200 day moving average price is $3.77. The firm has a market capitalization of $853.73 million, a PE ratio of -22.83 and a beta of 2.83.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Virtu Financial LLC grew its position 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 during the period. XTX Topco Ltd acquired a new stake in Quantum Computing in the 3rd quarter worth about $46,000. Finally, Geode Capital Management LLC grew its holdings in Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after buying an additional 65,486 shares during the period. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.