Quantum Computing (NASDAQ:QUBT) Sees Large Volume Increase – Here’s Why

Quantum Computing Inc. (NASDAQ:QUBT) saw unusually-high trading volume on Monday . Approximately 26,022,615 shares were traded during trading, an increase of 443% from the previous session’s volume of 4,789,985 shares.The stock last traded at $7.64 and had previously closed at $6.10.

Analysts Set New Price Targets

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 research note on Wednesday, November 13th.

Quantum Computing Stock Performance

The company has a 50-day moving average of $1.49 and a two-hundred day moving average of $0.95.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.18 million during the quarter.

Hedge Funds Weigh In On Quantum Computing

Large investors have recently modified their holdings of the stock. Virtu Financial LLC grew its holdings 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 valued at $40,000 after buying an additional 47,880 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Quantum Computing in the third quarter worth $46,000. TRUE Private Wealth Advisors lifted its holdings in shares of Quantum Computing by 318.1% during the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock valued at $33,000 after purchasing an additional 50,000 shares in the last quarter. Finally, PEAK6 Investments LLC purchased a new stake in shares of Quantum Computing during the first quarter valued at $129,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.