Quantum Computing (NASDAQ:QUBT) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) saw unusually-strong trading volume on Tuesday . Approximately 4,825,476 shares changed hands during mid-day trading, a decline of 16% from the previous session’s volume of 5,772,258 shares.The stock last traded at $5.55 and had previously closed at $6.11.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets raised their price target on 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 13.6 %

The business has a 50 day simple moving average of $2.33 and a two-hundred day simple moving average of $1.23. The firm has a market cap of $716.55 million, a PE ratio of -24.17 and a beta of 3.11.

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

Institutional Trading of Quantum Computing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC increased its position 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 worth $40,000 after purchasing an additional 47,880 shares in the last quarter. Geode Capital Management LLC boosted its stake in Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after buying an additional 65,486 shares during the last quarter. XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter worth $46,000. Finally, TRUE Private Wealth Advisors boosted its stake in Quantum Computing by 318.1% during the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after buying an additional 50,000 shares during the last quarter. 4.26% of the stock is currently owned by hedge funds and other 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.