Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Should You Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) gapped down prior to trading on Tuesday . The stock had previously closed at $5.43, but opened at $5.02. Quantum Computing shares last traded at $5.18, with a volume of 3,576,172 shares trading hands.

Wall Street Analysts Forecast Growth

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

Quantum Computing Trading Down 2.3 %

The firm’s fifty day moving average price is $10.83 and its two-hundred day moving average price is $5.85. The stock has a market capitalization of $727.72 million, a PE ratio of -18.40 and a beta of 3.26.

Institutional Investors Weigh In On Quantum Computing

Several large investors have recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in shares of Quantum Computing in the third quarter valued at approximately $46,000. Geode Capital Management LLC lifted its holdings in Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after purchasing an additional 65,486 shares in the last quarter. Virtu Financial LLC lifted its holdings in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares in the last quarter. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing during the 4th quarter worth $209,000. Finally, Diversify Wealth Management LLC purchased a new stake in shares of Quantum Computing during the fourth quarter worth $331,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

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.