Quantum Computing (NASDAQ:QUBT) Stock Price Down 1.7% – Here’s Why

by · The Cerbat Gem

Quantum Computing Inc. (NASDAQ:QUBT – Get Free Report)’s share price traded down 1.7% on Friday . The company traded as low as $7.84 and last traded at $7.95. 8,630,569 shares were traded during trading, a decline of 71% from the average session volume of 29,460,414 shares. The stock had previously closed at $8.09.

Analysts Set New Price Targets

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

Check Out Our Latest Report on Quantum Computing

Quantum Computing Trading Down 5.1 %

The business’s 50-day simple moving average is $12.15 and its two-hundred day simple moving average is $5.50. The company has a market capitalization of $1.05 billion, a PE ratio of -26.23 and a beta of 2.75.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors have recently modified their holdings of QUBT. Alyeska Investment Group L.P. acquired a new stake in shares of Quantum Computing in the 4th quarter valued at about $69,613,000. Anson Funds Management LP acquired a new stake in shares of Quantum Computing in the 4th quarter valued at about $70,006,000. Vanguard Group Inc. raised its stake in shares of Quantum Computing by 83.6% in the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock valued at $69,290,000 after purchasing an additional 1,906,749 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Quantum Computing in the 4th quarter valued at about $13,953,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Quantum Computing in the 4th quarter valued at about $11,750,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Company Profile

(Get Free Report)

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.

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