Quantum Computing (NASDAQ:QUBT) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) saw an uptick in trading volume on Wednesday . 32,599,659 shares changed hands during mid-day trading, a decline of 11% from the previous session’s volume of 36,618,219 shares.The stock last traded at $10.35 and had previously closed at $7.43.

Analyst Ratings Changes

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

Quantum Computing Stock Up 36.6 %

The business’s 50-day moving average is $9.66 and its two-hundred day moving average is $3.86. The company has a market capitalization of $1.31 billion, a P/E ratio of -35.00 and a beta of 2.83.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in QUBT. XTX Topco Ltd purchased a new stake in Quantum Computing during the third quarter worth about $46,000. Geode Capital Management LLC increased its holdings in Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after buying an additional 65,486 shares during the last quarter. Virtu Financial LLC increased its holdings 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 buying an additional 47,880 shares during the last quarter. Finally, Sovereign Financial Group Inc. purchased a new stake in Quantum Computing during the fourth quarter worth about $209,000. 4.26% of the stock is 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.