Quantum Computing (NASDAQ:QUBT) Trading Down 6.5% – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price traded down 6.5% on Monday . The stock traded as low as $4.64 and last traded at $4.71. 2,163,539 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 14,400,960 shares. The stock had previously closed at $5.03.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets upped their price target on Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

Quantum Computing Stock Performance

The stock has a market cap of $620.04 million, a price-to-earnings ratio of -15.59 and a beta of 3.26. The business’s 50 day moving average is $9.81 and its 200-day moving average is $5.98.

Institutional Trading of Quantum Computing

Institutional investors and hedge funds have recently modified their holdings of the stock. Alyeska Investment Group L.P. acquired a new stake in Quantum Computing in the 4th quarter worth about $69,613,000. Anson Funds Management LP acquired a new stake in shares of Quantum Computing in the fourth quarter worth approximately $70,006,000. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 1,906,749 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Quantum Computing in the 4th quarter valued at $13,953,000. Finally, CIBC Private Wealth Group LLC purchased a new position in Quantum Computing in the 4th quarter valued at $11,750,000. Hedge funds and other 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.