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

Quantum Computing Inc. (NASDAQ:QUBT) gapped down before the market opened on Thursday . The stock had previously closed at $25.68, but opened at $22.00. Quantum Computing shares last traded at $18.84, with a volume of 26,964,077 shares trading hands.

Wall Street Analyst Weigh In

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

Quantum Computing Price Performance

The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -60.76 and a beta of 3.11. The firm’s fifty day moving average is $4.55 and its 200-day moving average is $2.00.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.18 million during the quarter.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors have recently made changes to their positions in the company. Virtu Financial LLC lifted 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 worth $40,000 after purchasing an additional 47,880 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Quantum Computing in the 3rd quarter worth about $46,000. 4.26% of the stock is currently owned by 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.