Quantum Computing (NASDAQ:QUBT) Shares Up 7.5% – Time to Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded up 7.5% on Wednesday . The company traded as high as $5.27 and last traded at $5.09. 3,455,417 shares were traded during trading, a decline of 76% from the average session volume of 14,393,775 shares. The stock had previously closed at $4.73.

Quantum Computing Stock Up 18.9 %

The firm has a market capitalization of $895.76 million, a PE ratio of -22.37 and a beta of 3.26. The stock’s fifty day simple moving average is $8.80 and its 200 day simple moving average is $6.03.

Institutional Trading of Quantum Computing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QUBT. Tower Research Capital LLC TRC purchased a new stake in shares of Quantum Computing in the fourth quarter worth $30,000. Archer Investment Corp purchased a new position in Quantum Computing during the fourth quarter valued at $33,000. IFP Advisors Inc purchased a new position in Quantum Computing during the fourth quarter valued at $33,000. Farther Finance Advisors LLC purchased a new position in Quantum Computing during the fourth quarter valued at $33,000. Finally, Virtu Financial LLC grew its stake in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after acquiring an additional 47,880 shares in the last quarter. 4.26% of the stock is 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.