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

Quantum Computing Inc. (NASDAQ:QUBT) saw unusually-high trading volume on Wednesday . Approximately 32,599,659 shares changed hands during trading, a decline of 11% from the previous session’s volume of 36,618,219 shares.The stock last traded at $10.35 and had previously closed at $7.43.

Analyst Ratings Changes

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

Quantum Computing Price Performance

The stock’s 50-day moving average is $10.06 and its 200 day moving average is $3.97.

Institutional Investors Weigh In On Quantum Computing

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC boosted its position in shares of Quantum Computing by 377.7% during the 3rd 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. XTX Topco Ltd acquired a new stake in shares of Quantum Computing in the third quarter valued at approximately $46,000. Sovereign Financial Group Inc. purchased a new position in Quantum Computing during the fourth quarter worth $209,000. Diversify Wealth Management LLC purchased a new stake in Quantum Computing during the 4th quarter worth about $331,000. Finally, Geode Capital Management LLC grew its holdings in shares of 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 in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

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.