Quantum Computing (NASDAQ:QUBT) Stock Price Down 4% – What You Need to Know

On Monday, Quantum Computing Inc. (NASDAQ:QUBT) experienced a decline in its stock price, trading down by 4%. The stock fell to a low of $7.78 before recovering slightly to trade at $7.95. During the trading session, a total of 12,497,404 shares were exchanged, which marks a significant 62% drop compared to the average volume of 32,462,944 shares. Previously, the stock had closed at $8.28.

Analyst Ratings Changes

In an update, Ascendiant Capital Markets increased their price target for Quantum Computing from $8.25 to $8.50. They have also given the company a "buy" rating in a research note published on November 13th.

Quantum Computing Price Performance

The company's stock is currently below its 50-day moving average of $12.09 and its 200-day moving average of $5.46. Quantum Computing has a market capitalization of approximately $1.09 billion, a price-to-earnings (P/E) ratio of -27.45, and a beta of 2.75, indicating a higher volatility compared to the market.

Hedge Funds Actions

Recent movements from institutional investors have affected Quantum Computing's stock. For instance, UNICOM Systems Inc. made a new investment in the company valued at about $5,707,000 during the fourth quarter. SG Americas Securities LLC also acquired shares worth approximately $626,000 in the same period. Virtu Financial LLC significantly increased its shareholding by 377.7% in the third quarter, now owning 60,557 shares valued at $40,000, having added 47,880 shares recently. Moreover, Janney Montgomery Scott LLC and Heck Capital Advisors LLC also initiated new stakes in Quantum Computing during the fourth quarter, valued at $786,000 and $1,255,000 respectively. Currently, institutional investors own approximately 4.26% of the company's stock.

Understanding Quantum Computing Inc.

Quantum Computing Inc. is recognized as a leader in the field of quantum technology. The company focuses on providing accessible and cost-effective quantum machines. Their offerings include the Dirac systems, which are portable and low-powered quantum computers that function at room temperature. Additionally, the company specializes in various technologies including quantum random number generators and quantum authentication solutions, which are designed to improve cybersecurity.

Investment Considerations

The decrease in Quantum Computing's stock price raises important questions for investors regarding whether they should sell their shares. While analysts maintain a "buy" rating, some suggest looking into other companies that may offer better investment opportunities at the moment.

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