Quantum Computing (NASDAQ:QUBT) Shares Gap Down – What’s Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) gapped down prior to trading on Friday . The stock had previously closed at $18.75, but opened at $17.99. Quantum Computing shares last traded at $18.63, with a volume of 4,043,892 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets raised their target price 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 Performance

The company’s 50 day moving average price is $8.25 and its 200 day moving average price is $3.32. The company has a market cap of $2.26 billion, a price-to-earnings ratio of -60.34 and a beta of 2.83.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Virtu Financial LLC increased its holdings in Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Quantum Computing during the third quarter worth $46,000. Finally, Geode Capital Management LLC increased its stake in shares of Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after buying an additional 65,486 shares in the last quarter. Institutional investors own 4.26% of the company’s stock.

About Quantum Computing

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.