Quantum Computing (NASDAQ:QUBT) Stock Price Down 9.9% – Time to Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) traded down 9.9% during mid-day trading on Tuesday . The stock traded as low as $16.63 and last traded at $16.71. 7,853,795 shares traded hands during trading, a decline of 22% from the average session volume of 10,107,755 shares. The stock had previously closed at $18.54.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets boosted their price objective 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 Price Performance

The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of -56.17 and a beta of 3.11. The firm has a 50-day moving average price of $6.95 and a two-hundred day moving average price of $2.87.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results 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 Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC increased its holdings 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 buying an additional 47,880 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 during the period. Finally, XTX Topco Ltd acquired a new position in shares of Quantum Computing during the 3rd quarter worth about $46,000. 4.26% of the stock is owned by institutional investors and hedge funds.

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.