Quantum Computing (NASDAQ:QUBT) Trading Down 3.1% – Time to Sell?

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

Wall Street Analysts Forecast Growth

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

Quantum Computing Stock Performance

The stock’s 50-day moving average is $12.03 and its 200 day moving average is $5.20. The firm has a market cap of $1.13 billion, a P/E ratio of -28.48 and a beta of 2.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. UNICOM Systems Inc. acquired a new stake in Quantum Computing during the 4th quarter valued at $5,707,000. SG Americas Securities LLC acquired a new stake in shares of Quantum Computing during the 4th quarter worth $626,000. Virtu Financial LLC lifted its position in 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 during the period. Janney Montgomery Scott LLC bought a new position in Quantum Computing in the 4th quarter valued at about $786,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Quantum Computing during the 4th quarter worth approximately $1,255,000. 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.