Quantum Computing (NASDAQ:QUBT) Stock Price Down 3.3% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded down 3.3% on Tuesday . The company traded as low as $9.60 and last traded at $9.61. 5,248,243 shares traded hands during trading, a decline of 88% from the average session volume of 42,767,695 shares. The stock had previously closed at $9.94.

Analyst Ratings Changes

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

Quantum Computing Price Performance

The business has a 50-day moving average of $11.20 and a 200 day moving average of $4.51. The company has a market cap of $1.32 billion, a PE ratio of -35.17 and a beta of 2.83.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $0.10 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in QUBT. Archer Investment Corp purchased a new stake in shares of Quantum Computing in the 4th quarter worth $33,000. Heck Capital Advisors LLC bought a new stake in Quantum Computing during the fourth quarter valued at about $1,255,000. Flagship Harbor Advisors LLC purchased a new stake in Quantum Computing in the fourth quarter worth about $199,000. Veracity Capital LLC bought a new position in shares of Quantum Computing in the fourth quarter worth about $343,000. Finally, Janney Montgomery Scott LLC purchased a new position in shares of Quantum Computing during the 4th quarter valued at about $786,000. 4.26% of the stock is currently 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.