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

Quantum Computing Inc. (NASDAQ:QUBT)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $11.10, but opened at $10.72. Quantum Computing shares last traded at $11.43, with a volume of 6,678,258 shares traded.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets lifted their price objective 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 Down 2.9 %

The stock has a market capitalization of $1.39 billion, a PE ratio of -37.33 and a beta of 2.83. The business’s 50-day moving average is $10.76 and its two-hundred day moving average is $4.27.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Wednesday, November 6th. The company reported ($0.06) EPS for the quarter. The firm had revenue of $0.10 million for the quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC increased its stake in shares of Quantum Computing by 377.7% during 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 during the period. XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter worth about $46,000. Geode Capital Management LLC grew its position in Quantum Computing by 10.5% during 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 period. Diversify Wealth Management LLC purchased a new stake in shares of Quantum Computing in the fourth quarter valued at about $331,000. Finally, Sovereign Financial Group Inc. purchased a new stake in shares of Quantum Computing in the fourth quarter valued at about $209,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.