Quantum Computing (NASDAQ:QUBT) Stock Price Down 0.4% – Time to Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) dropped 0.4% during trading on Tuesday . The company traded as low as $9.61 and last traded at $9.91. Approximately 12,357,865 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 36,539,250 shares. The stock had previously closed at $9.95.

Wall Street Analyst Weigh In

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

Quantum Computing Trading Down 3.0 %

The firm’s fifty day simple moving average is $11.85 and its two-hundred day simple moving average is $4.94. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -33.00 and a beta of 2.75.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data 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.

Hedge Funds Weigh In On Quantum Computing

Large investors have recently made changes to their positions in the stock. UNICOM Systems Inc. acquired a new position in Quantum Computing during the fourth quarter worth $5,707,000. Mission Wealth Management LP acquired a new position in Quantum Computing during the 4th quarter worth about $1,986,000. Raymond James Financial Inc. acquired a new position in Quantum Computing in the 4th quarter valued at about $1,924,000. SBI Securities Co. Ltd. acquired a new position in Quantum Computing in the 4th quarter valued at about $1,602,000. Finally, Focus Financial Network Inc. purchased a new stake in Quantum Computing during the fourth quarter worth about $1,536,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.