Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Here’s What Happened

Shares of Quantum Computing Inc. (NASDAQ:QUBT) gapped down prior to trading on Tuesday . The stock had previously closed at $8.02, but opened at $7.50. Quantum Computing shares last traded at $8.22, with a volume of 14,148,923 shares trading hands.

Quantum Computing Trading Down 3.0 %

The company has a market cap of $1.15 billion, a price-to-earnings ratio of -28.86 and a beta of 3.26. The firm’s fifty day moving average price is $8.19 and its 200-day moving average price is $6.27.

Hedge Funds Weigh In On Quantum Computing

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC acquired a new position in shares of Quantum Computing in the 4th quarter valued at $30,000. IFP Advisors Inc acquired a new position in shares of 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 worth $33,000. Archer Investment Corp acquired a new position in Quantum Computing in the 4th quarter worth $33,000. Finally, Hollencrest Capital Management acquired a new position in Quantum Computing in the 4th quarter worth $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.