Quantum Computing (NASDAQ:QUBT) Stock Price Down 1.7% – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded down 1.7% on Wednesday . The company traded as low as $9.40 and last traded at $9.68. 6,330,276 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 35,922,789 shares. The stock had previously closed at $9.85.

Wall Street Analysts Forecast Growth

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

Quantum Computing Stock Performance

The business’s 50 day moving average price is $11.79 and its 200-day moving average price is $4.91. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -34.34 and a beta of 2.75.

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

Institutional Trading of Quantum Computing

A number of large investors have recently bought and sold shares of the stock. IFP Advisors Inc acquired a new stake in shares of Quantum Computing in the 4th quarter valued at $33,000. Archer Investment Corp bought a new stake in shares of Quantum Computing during the fourth quarter worth $33,000. SRH Advisors LLC acquired a new position in shares of Quantum Computing during the fourth quarter valued at $69,000. Capital Advisors Inc. OK bought a new position in shares of Quantum Computing in the 4th quarter valued at about $166,000. Finally, Essex Financial Services Inc. bought a new position in Quantum Computing in the fourth quarter valued at approximately $174,000. 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.