Quantum Computing (NASDAQ:QUBT) Sees Unusually-High Trading Volume – Here’s Why

Quantum Computing Inc. (NASDAQ:QUBT) saw unusually-high trading volume on Friday . Approximately 13,481,715 shares changed hands during trading, a decline of 7% from the previous session’s volume of 14,513,507 shares.The stock last traded at $6.62 and had previously closed at $5.49.

Quantum Computing Stock Performance

The stock has a market cap of $917.02 million, a PE ratio of -23.16 and a beta of 3.26. The business has a 50-day moving average of $8.80 and a 200 day moving average of $6.03.

Institutional Trading of Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in shares of Quantum Computing during the 4th quarter worth about $1,255,000. Two Sigma Investments LP acquired a new stake in shares of Quantum Computing in the fourth quarter worth $657,000. Toronto Dominion Bank acquired a new stake in shares of Quantum Computing in the fourth quarter worth $3,509,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Quantum Computing in the 4th quarter valued at $319,000. Finally, Millennium Management LLC acquired a new position in shares of Quantum Computing during the 4th quarter valued at $2,772,000. 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.