Quantum Computing (NASDAQ:QUBT) Trading Up 25.4% – Here’s Why

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price traded up 25.4% during trading on Friday . The stock traded as high as $7.04 and last traded at $6.89. 21,180,084 shares changed hands during trading, an increase of 46% from the average session volume of 14,548,083 shares. The stock had previously closed at $5.49.

Quantum Computing Trading Up 26.3 %

The stock’s fifty day moving average is $8.80 and its two-hundred day moving average is $6.03. The firm has a market cap of $950.90 million, a P/E ratio of -23.74 and a beta of 3.26.

Hedge Funds Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC bought a new stake in shares of Quantum Computing during the 4th quarter valued at about $30,000. IFP Advisors Inc purchased a new position in Quantum Computing in the 4th quarter worth approximately $33,000. Farther Finance Advisors LLC bought a new position in shares of Quantum Computing in the 4th quarter worth $33,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing during the 4th quarter valued at $33,000. Finally, Hollencrest Capital Management purchased a new stake in shares of Quantum Computing during the 4th quarter valued at $41,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

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.