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

Shares of Quantum Computing Inc. (NASDAQ:QUBT) gapped up prior to trading on Wednesday . The stock had previously closed at $4.73, but opened at $5.01. Quantum Computing shares last traded at $4.96, with a volume of 2,347,581 shares traded.

Quantum Computing Stock Performance

The company’s 50 day simple moving average is $9.07 and its 200 day simple moving average is $6.03. The stock has a market cap of $753.10 million, a PE ratio of -18.93 and a beta of 3.26.

Institutional Trading of Quantum Computing

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in Quantum Computing during the fourth quarter valued at about $30,000. Archer Investment Corp bought a new position in Quantum Computing during the fourth quarter valued at $33,000. IFP Advisors Inc bought a new stake in shares of Quantum Computing in the fourth quarter valued at $33,000. Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing during the 4th quarter valued at $33,000. Finally, Virtu Financial LLC grew its stake in shares of Quantum Computing by 377.7% during the 3rd 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. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.