Quantum Computing Shares Down 3.6% - What You Need to Know

Quantum Computing Inc. (NASDAQ:QUBT) saw its stock price fall by 3.6% during midday trading on Thursday, reaching a low of $9.52 before closing at $9.51. A total of 7,146,630 shares traded hands, a significant drop of 80% compared to its average session volume of 35,086,887 shares. The stock had closed at $9.87 the previous day.

Wall Street Analysts on Quantum Computing

In a separate analysis, Ascendiant Capital Markets has revised their target price for Quantum Computing, increasing it from $8.25 to $8.50, while maintaining a "buy" rating in a report dated November 13th.

Current Stock Performance

The market capitalization of Quantum Computing is currently at $1.27 billion. It has a price-to-earnings (P/E) ratio of -32.00 and a beta of 2.75. Over the last fifty days, the stock has shown a simple moving average of $11.90, while the two-hundred day simple moving average stands at $4.98. Quantum Computing recently released its quarterly earnings report on November 6th, revealing an earnings per share of ($0.06) and revenue of $0.10 million for the quarter.

Institutional Investor Activity

Several institutional investors have recently adjusted their positions in Quantum Computing. XTX Topco Ltd purchased a new stake worth $46,000 in the third quarter. Furthermore, Geode Capital Management LLC increased its holdings by 10.5%, now owning 687,208 shares worth $449,000 after adding 65,486 shares. Virtu Financial LLC raised its stakes by 377.7%, acquiring an additional 47,880 shares in the last quarter. Other significant moves include Sovereign Financial Group Inc. and Diversify Wealth Management LLC, each purchasing new stakes valued at approximately $209,000 and $331,000, respectively. Approximately 4.26% of the company's stock is owned by institutional and hedge funds.

Overview of Quantum Computing Inc.

Quantum Computing Inc. is known for its integrated photonics solutions, providing accessible and affordable quantum machines. They offer products such as portable, low-power quantum computers known as Dirac systems, along with quantum random number generators (uQRNG) and quantum authentication services that integrate into existing telecom infrastructure.

Conclusion

Given the recent stock decline, investors may be questioning whether it is time to sell. However, with analysts maintaining a favorable outlook and institutional investors actively participating, it would be prudent to monitor further developments before making any decisive moves.

Quantum, Stocks, Investment