Quantum Computing (NASDAQ:QUBT) Stock Price Up 2.3% – Should You Buy?

Quantum Computing Inc. (NASDAQ:QUBT) shares were up 2.3% on Friday . The company traded as high as $5.18 and last traded at $4.98. Approximately 3,064,004 shares changed hands during trading, a decline of 88% from the average daily volume of 24,919,229 shares. The stock had previously closed at $4.87.

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 company a “buy” rating in a report on Wednesday, November 13th.

Quantum Computing Stock Up 3.3 %

The stock has a market cap of $690.00 million, a price-to-earnings ratio of -17.34 and a beta of 3.26. The business’s fifty day moving average is $9.81 and its two-hundred day moving average is $5.94.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in Quantum Computing during the 4th quarter worth approximately $30,000. IFP Advisors Inc acquired a new position in Quantum Computing in the 4th quarter valued at $33,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing in the 4th quarter valued at $33,000. Archer Investment Corp acquired a new position in Quantum Computing in the 4th quarter valued at $33,000. Finally, Hollencrest Capital Management acquired a new position in Quantum Computing in the 4th quarter valued at $41,000. 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.