Quantum Computing (NASDAQ:QUBT) Shares Down 9.7% – Should You Sell?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) fell 9.7% during mid-day trading on Monday . The company traded as low as $9.46 and last traded at $9.83. 41,307,107 shares were traded during mid-day trading, a decline of 32% from the average session volume of 61,121,204 shares. The stock had previously closed at $10.88.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets boosted their price target on 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 Down 9.7 %

The firm’s 50 day moving average price is $10.22 and its two-hundred day moving average price is $4.08. The firm has a market capitalization of $1.27 billion, a PE ratio of -33.90 and a beta of 2.83.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing during the 4th quarter valued at approximately $209,000. Diversify Wealth Management LLC acquired a new stake in shares of Quantum Computing during the fourth quarter worth approximately $331,000. Veracity Capital LLC bought a new stake in shares of Quantum Computing in the fourth quarter worth $343,000. SG Americas Securities LLC acquired a new stake in Quantum Computing in the fourth quarter valued at $626,000. Finally, Janney Montgomery Scott LLC bought a new position in Quantum Computing during the 4th quarter valued at $786,000. Institutional investors and hedge funds 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.