Quantum Computing (NASDAQ:QUBT) Shares Gap Down – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped down prior to trading on Monday . The stock had previously closed at $8.98, but opened at $8.01. Quantum Computing shares last traded at $7.97, with a volume of 6,295,023 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets increased their target price on shares of 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 Up 14.0 %

The business has a 50-day moving average of $9.66 and a 200-day moving average of $3.86. The stock has a market cap of $958.19 million, a price-to-earnings ratio of -25.62 and a beta of 2.83.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors have recently made changes to their positions in QUBT. Geode Capital Management LLC increased 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 worth $449,000 after buying an additional 65,486 shares during the last quarter. XTX Topco Ltd bought a new stake in Quantum Computing in the third quarter worth approximately $46,000. Virtu Financial LLC grew its position in 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 acquiring an additional 47,880 shares in the last quarter. Finally, Sovereign Financial Group Inc. acquired a new position in shares of Quantum Computing during the 4th quarter worth $209,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.