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

Shares of Quantum Computing Inc. (NASDAQ:QUBT) gapped down before the market opened on Tuesday . The stock had previously closed at $8.02, but opened at $7.50. Quantum Computing shares last traded at $8.22, with a volume of 14,148,923 shares traded.

Quantum Computing Trading Up 13.9 %

The stock has a 50-day moving average price of $8.39 and a 200 day moving average price of $6.20. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -31.54 and a beta of 3.26.

Hedge Funds Weigh In On Quantum Computing

A number of hedge funds have recently bought and sold shares of QUBT. Alyeska Investment Group L.P. acquired a new position in shares of Quantum Computing during the 4th quarter worth approximately $69,613,000. Anson Funds Management LP purchased a new stake in Quantum Computing in the 4th quarter worth $70,006,000. Vanguard Group Inc. raised its position in Quantum Computing by 83.6% during the fourth quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company’s stock worth $69,290,000 after acquiring an additional 1,906,749 shares during the period. Rockefeller Capital Management L.P. purchased a new position in Quantum Computing during the fourth quarter valued at $13,953,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at about $11,750,000. 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.