Quantum Computing (NASDAQ:QUBT) Stock Price Down 3.4% – Time to Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price fell 3.4% during trading on Friday . The company traded as low as $7.96 and last traded at $8.00. 5,064,267 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 30,894,781 shares. The stock had previously closed at $8.28.

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 Price Performance

The business has a 50-day moving average of $12.08 and a 200 day moving average of $5.33.

Institutional Trading of Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in Quantum Computing in the 4th quarter valued at about $30,000. IFP Advisors Inc bought a new stake in Quantum Computing during the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new stake in Quantum Computing during the 4th quarter worth approximately $33,000. Archer Investment Corp bought a new stake in Quantum Computing during the 4th quarter worth approximately $33,000. Finally, Hollencrest Capital Management bought a new stake in Quantum Computing during the 4th quarter worth approximately $41,000. 4.26% of the stock is owned by 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.