Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report) traded up 25.4% on Friday . The stock traded as high as $7.04 and last traded at $6.89. 21,180,084 shares changed hands during trading, an increase of 46% from the average session volume of 14,548,083 shares. The stock had previously closed at $5.49.
Quantum Computing Stock Up 26.3 %
The firm has a market capitalization of $950.90 million, a PE ratio of -23.74 and a beta of 3.26. The stock has a 50-day simple moving average of $8.80 and a 200-day simple moving average of $6.03.
Institutional Investors Weigh In On Quantum Computing
Large investors have recently added to or reduced their stakes in the company. UNICOM Systems Inc. bought a new position in Quantum Computing during the fourth quarter worth about $5,707,000. SBI Securities Co. Ltd. bought a new position in Quantum Computing in the 4th quarter worth approximately $1,602,000. SG Americas Securities LLC bought a new position in Quantum Computing in the 4th quarter worth approximately $626,000. Virtu Financial LLC grew its stake in 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 buying an additional 47,880 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Quantum Computing during the 4th quarter valued at $786,000. Hedge funds and other 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.
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