Quantum Computing (NASDAQ:QUBT) Shares Gap Up – Here’s What Happened

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $7.96, but opened at $8.52. Quantum Computing shares last traded at $8.00, with a volume of 7,424,895 shares changing hands.

Analyst Ratings Changes

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 report on Wednesday, November 13th.

Quantum Computing Stock Up 5.7 %

The stock’s 50 day moving average price is $12.12 and its 200-day moving average price is $5.48. The stock has a market capitalization of $1.15 billion, a PE ratio of -28.65 and a beta of 2.75.

Institutional Investors Weigh In On Quantum Computing

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC purchased a new stake in Quantum Computing during the fourth quarter valued at approximately $30,000. Archer Investment Corp purchased a new stake in Quantum Computing during the 4th quarter valued at $33,000. IFP Advisors Inc bought a new stake in Quantum Computing in the fourth quarter worth $33,000. Farther Finance Advisors LLC purchased a new position in Quantum Computing during the fourth quarter worth $33,000. Finally, Virtu Financial LLC increased its position in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after acquiring an additional 47,880 shares during 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.