Quantum Computing (NASDAQ:QUBT) Shares Gap Down – Should You Sell?

Quantum Computing Inc. (NASDAQ:QUBT) shares gapped down before the market opened on Thursday . The stock had previously closed at $11.10, but opened at $10.72. Quantum Computing shares last traded at $11.43, with a volume of 6,678,258 shares traded.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets boosted their price target on Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

Quantum Computing Stock Performance

The business’s 50-day simple moving average is $11.05 and its 200-day simple moving average is $4.39.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Wednesday, November 6th. The company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $0.10 million for the quarter.

Institutional Trading of Quantum Computing

Several hedge funds and other institutional investors have recently bought and sold shares of QUBT. Flagship Harbor Advisors LLC purchased a new stake in Quantum Computing in the 4th quarter worth approximately $199,000. Sovereign Financial Group Inc. purchased a new stake in Quantum Computing during the fourth quarter worth $209,000. Diversify Wealth Management LLC acquired a new stake in Quantum Computing during the fourth quarter valued at $331,000. Veracity Capital LLC purchased a new position in Quantum Computing in the fourth quarter valued at $343,000. Finally, SG Americas Securities LLC acquired a new position in shares of Quantum Computing in the fourth quarter worth about $626,000. 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.