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

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $11.10, but opened at $10.72. Quantum Computing shares last traded at $11.43, with a volume of 6,678,258 shares trading hands.

Wall Street Analyst Weigh In

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

Quantum Computing Stock Performance

The stock’s 50 day simple moving average is $10.76 and its two-hundred day simple moving average is $4.27. The firm has a market capitalization of $1.39 billion, a PE ratio of -37.33 and a beta of 2.83.

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

Institutional Trading of Quantum Computing

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC increased its holdings in 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 last quarter. XTX Topco Ltd acquired a new position in shares of Quantum Computing in the third quarter worth $46,000. Flagship Harbor Advisors LLC acquired a new position in shares of Quantum Computing in the fourth quarter worth $199,000. Sovereign Financial Group Inc. acquired a new position in shares of Quantum Computing in the fourth quarter worth $209,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of Quantum Computing in the fourth quarter worth $331,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

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.