Quantum Computing (NASDAQ:QUBT) Reaches New 1-Year High – Here’s Why

Quantum Computing Inc. (NASDAQ:QUBT) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $5.31 and last traded at $4.98, with a volume of 99134811 shares trading hands. The stock had previously closed at $3.68.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets increased their price target on Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

Quantum Computing Stock Up 28.2 %

The company’s fifty day simple moving average is $1.24 and its two-hundred day simple moving average is $0.86.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.

Institutional Trading of Quantum Computing

A number of institutional investors have recently bought and sold shares of QUBT. PEAK6 Investments LLC bought a new stake in shares of Quantum Computing in the first quarter valued at approximately $129,000. TRUE Private Wealth Advisors grew its stake in Quantum Computing by 318.1% during the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after buying an additional 50,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in Quantum Computing by 10.5% in the third 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 in the last quarter. XTX Topco Ltd bought a new position in shares of Quantum Computing in the third quarter worth about $46,000. Finally, Virtu Financial LLC boosted its stake in shares of Quantum Computing by 377.7% in the 3rd 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 in the last quarter. Institutional investors 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.