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

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $6.52, but opened at $7.15. Quantum Computing shares last traded at $7.80, with a volume of 9,195,541 shares traded.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets lifted their target price 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 Stock Up 55.5 %

The company has a 50-day moving average price of $9.86 and a two-hundred day moving average price of $3.92.

Institutional Trading of Quantum Computing

Several large investors have recently bought and sold shares of the company. Virtu Financial LLC lifted its position in shares of 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 purchasing an additional 47,880 shares in the last quarter. XTX Topco Ltd acquired a new position in Quantum Computing in the 3rd quarter worth $46,000. Sovereign Financial Group Inc. purchased a new position in Quantum Computing in the 4th quarter valued at about $209,000. Finally, Geode Capital Management LLC grew its stake in shares of Quantum Computing by 10.5% during the third 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. 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.