Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped down before the market opened on Friday . The stock had previously closed at $18.75, but opened at $17.99. Quantum Computing shares last traded at $18.63, with a volume of 4,043,892 shares traded.

Wall Street Analyst Weigh In

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

Quantum Computing Stock Down 5.9 %

The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -60.86 and a beta of 3.07. The company’s fifty day simple moving average is $7.92 and its two-hundred day simple moving average is $3.19.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.18 million for the quarter.

Institutional Trading of Quantum Computing

A number of large investors have recently bought and sold shares of QUBT. Virtu Financial LLC raised its stake in shares of Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares during the period. XTX Topco Ltd acquired a new stake in Quantum Computing in the 3rd quarter valued at approximately $46,000. Finally, Geode Capital Management LLC lifted its stake in Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after acquiring an additional 65,486 shares in the last quarter. 4.26% of the stock is owned by institutional investors.

About Quantum Computing

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.