Quantum Computing (NASDAQ:QUBT) Trading Down 7.3% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT) shares fell 7.3% on Monday . The stock traded as low as $9.75 and last traded at $10.13. 8,102,317 shares traded hands during trading, a decline of 82% from the average session volume of 44,557,258 shares. The stock had previously closed at $10.93.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets boosted their price target on 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 company has a 50 day moving average price of $11.36 and a 200 day moving average price of $4.58. The firm has a market cap of $1.31 billion, a PE ratio of -34.93 and a beta of 2.83.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter. The business had revenue of $0.10 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QUBT. Geode Capital Management LLC increased its holdings in Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares during the last quarter. UNICOM Systems Inc. bought a new stake in shares of Quantum Computing in the fourth quarter worth $5,707,000. Focus Financial Network Inc. acquired a new stake in Quantum Computing in the fourth quarter valued at $1,536,000. Heck Capital Advisors LLC bought a new position in Quantum Computing during the 4th quarter valued at $1,255,000. Finally, XTX Topco Ltd acquired a new position in Quantum Computing during the 3rd quarter worth $46,000. Institutional investors and hedge funds 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.