Quantum Computing (NASDAQ:QUBT) Trading Up 1.6% – Still a Buy?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price was up 1.6% during trading on Tuesday . The stock traded as high as $4.83 and last traded at $4.59. Approximately 2,380,691 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 14,375,352 shares. The stock had previously closed at $4.52.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets raised their price objective on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Quantum Computing Price Performance

The business’s fifty day simple moving average is $9.81 and its two-hundred day simple moving average is $5.98. The company has a market cap of $648.16 million, a PE ratio of -16.29 and a beta of 3.26.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors have recently modified their holdings of QUBT. Tower Research Capital LLC TRC purchased a new position in Quantum Computing during the fourth quarter worth approximately $30,000. IFP Advisors Inc acquired a new position in shares of Quantum Computing during the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing during the 4th quarter valued at approximately $33,000. Archer Investment Corp acquired a new stake in Quantum Computing in the 4th quarter valued at $33,000. Finally, Hollencrest Capital Management acquired a new stake in Quantum Computing in the 4th quarter valued at $41,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.