Quantum Computing (NASDAQ:QUBT) Stock Price Up 0.5% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT) shot up 0.5% on Thursday . The company traded as high as $11.94 and last traded at $11.15. 11,280,684 shares were traded during trading, a decline of 76% from the average session volume of 47,241,102 shares. The stock had previously closed at $11.10.

Analysts Set New Price Targets

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

Quantum Computing Stock Performance

The stock has a market cap of $1.41 billion, a PE ratio of -37.69 and a beta of 2.83. The stock’s 50-day moving average is $11.05 and its two-hundred day moving average is $4.39.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.06) earnings per share for the quarter. The firm had revenue of $0.10 million during the quarter.

Institutional Investors Weigh In On Quantum Computing

Several large investors have recently added to or reduced their stakes in QUBT. XTX Topco Ltd purchased a new position in Quantum Computing in the 3rd quarter valued at approximately $46,000. Geode Capital Management LLC boosted its holdings in Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after purchasing an additional 65,486 shares during the period. Virtu Financial LLC boosted its holdings in Quantum Computing by 377.7% in the third 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. Sovereign Financial Group Inc. acquired a new position in Quantum Computing during the 4th quarter worth $209,000. Finally, Diversify Wealth Management LLC purchased a new stake in Quantum Computing during the 4th quarter worth about $331,000. 4.26% of the stock is owned by hedge funds and other 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.