Quantum Computing (NASDAQ:QUBT) Stock Price Down 8.8% - Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT) experienced a significant decline in its stock price on Tuesday, trading down by 8.8%. The stock hit a low of $5.15 before recovering slightly to close at $5.57. During the trading session, 12,219,131 shares changed hands, marking a 110% increase in volume compared to its typical trading volume of 5,808,303 shares. For context, the stock had closed at $6.11 prior to this downturn.

Getting Alerts on Quantum Computing

Recent Analyst Ratings

• Quantum Computing Stocks Are on Fire: 3 Stocks to Watch

In a separate update, Ascendiant Capital Markets raised its price target for Quantum Computing from $8.25 to $8.50, maintaining a "buy" rating for the stock in their report dated Wednesday, November 13th.

Performance Metrics of Quantum Computing

As of now, Quantum Computing holds a market capitalization of approximately $632.74 million, with a price-to-earnings (P/E) ratio of -19.21 and a beta of 3.07, indicating a higher volatility compared to the market. The company's 50-day moving average price stands at $2.09, while its 200-day moving average price is $1.16.

On October 2nd, Quantum Computing reported its latest earnings results, revealing a loss of ($0.06) per share for the quarter, which was better than analysts' expectations of ($0.08) by $0.02. The company recorded revenues of $0.18 million during the same quarter.

Changes in Institutional Trading

Recent institutional trading activity has seen several large investors adjusting their positions in Quantum Computing. TRUE Private Wealth Advisors significantly increased their stake by 318.1% in the second quarter, acquiring an additional 50,000 shares, bringing their total to 65,718 shares valued at $33,000. In the third quarter, Virtu Financial LLC also enhanced its position by 377.7%, purchasing an additional 47,880 shares to own a total of 60,557 shares valued at $40,000. XTX Topco Ltd entered the scene with a new investment worth approximately $46,000, while Geode Capital Management expanded its holdings by 10.5%, now owning 687,208 shares valued at $449,000. This activity shows that 4.26% of Quantum Computing's stock is owned by institutional investors and hedge funds.

About Quantum Computing Inc.

Quantum Computing Inc. specializes in integrated photonics and provides accessible and affordable quantum machines. The company offers various products including portable, low power, and room-temperature quantum computers known as Dirac systems, which utilize quantum bits (qubits) and quantum digits (qudits). They also engage in reservoir computing, remote sensing, and single-photon imaging. Additionally, Quantum Computing offers a Quantum random number generator (uQRNG) that produces genuine random numbers derived from quantum processes, and quantum authentication solutions that address vulnerabilities in classical cryptography using entanglement-based quantum technology integrated into existing communication infrastructures.

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Should You Invest $1,000 in Quantum Computing Now?

Before deciding to invest in Quantum Computing, it's important to consider current market insights. Although analysts rate Quantum Computing as a "buy," top-rated research analysts believe there are five other stocks that present more attractive investment opportunities at this time.

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