Quantum Computing (NASDAQ:QUBT) Shares Gap Up – Still a Buy?

Quantum Computing Inc. (NASDAQ:QUBT) gapped up prior to trading on Thursday . The stock had previously closed at $7.96, but opened at $8.52. Quantum Computing shares last traded at $8.00, with a volume of 7,424,895 shares.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets upped their target price 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 Stock Performance

The stock’s 50 day simple moving average is $12.12 and its 200-day simple moving average is $5.48. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -28.65 and a beta of 2.75.

Institutional Trading of Quantum Computing

Several institutional investors have recently bought and sold shares of QUBT. Tower Research Capital LLC TRC purchased a new position in Quantum Computing during the fourth quarter valued at $30,000. IFP Advisors Inc acquired a new stake in Quantum Computing in the 4th quarter valued at about $33,000. Farther Finance Advisors LLC purchased a new position in Quantum Computing during the fourth quarter worth about $33,000. Archer Investment Corp acquired a new stake in shares of Quantum Computing during the fourth quarter worth about $33,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Quantum Computing in the fourth quarter valued at $41,000. 4.26% of the stock is 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.