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

Quantum Computing Inc. (NASDAQ:QUBT) gapped down before the market opened on Monday . The stock had previously closed at $8.98, but opened at $8.01. Quantum Computing shares last traded at $7.97, with a volume of 6,295,023 shares.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets lifted 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 Price Performance

The company’s 50 day moving average price is $9.42 and its 200 day moving average price is $3.77. The firm has a market capitalization of $887.26 million, a P/E ratio of -23.72 and a beta of 2.83.

Hedge Funds Weigh In On Quantum Computing

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