Quantum Computing (NASDAQ:QUBT) Shares Down 0.4% - Here's Why

On Tuesday, Quantum Computing Inc. (NASDAQ:QUBT) experienced a decline of 0.4% during mid-day trading. The stock reached a low of $9.61 before last trading at $9.91. During this period, 12,357,865 shares exchanged hands, representing a significant drop of 66% compared to the average trading volume of 36,539,250 shares. This was slightly below the previous closing price of $9.95.

Analyst Ratings Changes

• Some lesser-known companies in quantum computing are showing signs of growth.

In a recent update, Ascendiant Capital Markets raised their price target for Quantum Computing from $8.25 to $8.50 and assigned a "buy" rating to the stock in their research note dated November 13th.

Quantum Computing Price Performance

The company’s stock is currently trading below its 50-day moving average of $11.85 and its 200-day moving average of $4.94. Quantum Computing holds a market capitalization of $1.23 billion, a negative PE ratio of -33.00, and a beta of 2.75, indicating higher volatility compared to the overall market.

Quantum Computing Inc. last disclosed its quarterly earnings on November 6th. For that quarter, the company reported an earnings loss of ($0.06) per share, with total revenues of $0.10 million.

Institutional Trading of Quantum Computing

• Quantum Computing Inc. is recognized as a leader in the quantum technology sector, but how long will this last?

Recently, several institutional investors have bought and sold shares of QUBT. For instance, IFP Advisors Inc. acquired a new stake worth approximately $33,000 during the fourth quarter. Similarly, Archer Investment Corp. also purchased shares valued at around $33,000, while SRH Advisors LLC’s new investment was approximately $69,000. Additionally, Capital Advisors Inc. OK invested around $166,000, and Essex Financial Services Inc. put in about $174,000. Currently, institutional ownership of QUBT stands at 4.26%.

Quantum Computing Company Profile

Quantum Computing Inc. is focused on integrated photonics and aims to provide accessible and affordable quantum machines. Their product lineup includes the Dirac systems, which are portable and operate at room temperature, enhancing the performance of qubit and qudit entropy quantum computers. Other offerings include reservoir computing, remote sensing, and single-photon imaging. The company also specializes in a quantum random number generator (uQRNG) that produces genuine random numbers sourced from quantum processes, alongside quantum authentication technologies that enhances cybersecurity by integrating seamlessly into existing telecom infrastructures.

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