Quantum Computing (NASDAQ:QUBT) Shares Down 3.1% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price was down 3.1% during trading on Monday . The stock traded as low as $8.62 and last traded at $9.00. Approximately 6,925,774 shares were traded during trading, a decline of 79% from the average daily volume of 33,653,508 shares. The stock had previously closed at $9.28.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets lifted their price objective 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 Stock Up 5.0 %

The company’s fifty day moving average price is $12.03 and its 200-day moving average price is $5.20. The stock has a market capitalization of $1.13 billion, a PE ratio of -28.48 and a beta of 2.75.

Institutional Investors Weigh In On Quantum Computing

Hedge funds have recently bought and sold shares of the business. IFP Advisors Inc bought a new position in shares of Quantum Computing during the 4th quarter worth $33,000. Farther Finance Advisors LLC acquired a new stake in shares of Quantum Computing during the 4th quarter worth approximately $33,000. Archer Investment Corp acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $33,000. Hollencrest Capital Management purchased a new stake in shares of Quantum Computing during the fourth quarter worth about $41,000. Finally, Signaturefd LLC purchased a new position in Quantum Computing in the 4th quarter valued at $43,000. 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.