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

Shares of Quantum Computing Inc. (NASDAQ:QUBT) gapped down before the market opened on Tuesday . The stock had previously closed at $7.47, but opened at $7.12. Quantum Computing shares last traded at $7.55, with a volume of 4,024,747 shares trading hands.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets boosted their target price on 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 Performance

The company’s fifty day moving average price is $2.74 and its 200-day moving average price is $1.38. The stock has a market cap of $822.87 million, a P/E ratio of -27.76 and a beta of 3.07.

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

Hedge Funds Weigh In On Quantum Computing

A number of large investors have recently bought and sold shares of QUBT. TRUE Private Wealth Advisors increased its stake in Quantum Computing by 318.1% in the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after purchasing an additional 50,000 shares during the period. Virtu Financial LLC grew its holdings in shares of Quantum Computing by 377.7% in 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. XTX Topco Ltd purchased a new position in Quantum Computing in the 3rd quarter worth about $46,000. Finally, Geode Capital Management LLC lifted its holdings in Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after buying an additional 65,486 shares in the last quarter. Hedge funds and other institutional investors 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.