Quantum Computing (NASDAQ:QUBT) Stock Price Down 2.8% - What's Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) experienced a decline of 2.8% during trading on Thursday. The stock reached a low of $4.86 and later traded at $5.13. In total, around 3,785,898 shares were exchanged during the midday session, reflecting a significant drop of 85% from the typical daily volume of 25,291,549 shares. The stock had previously closed at $5.28.

Analyst Ratings Changes

• 2 Underrated Quantum Computing Companies Starting to Rally

In a separate development, Ascendiant Capital Markets raised their price target for Quantum Computing from $8.25 to $8.50 while maintaining a 'buy' rating in a report issued on November 13th.

Recent Trading Activity

The company currently holds a market capitalization of approximately $690 million. Its price-to-earnings ratio stands at -17.34, with a beta of 3.26. The fifty-day moving average for the stock is $10.07, while the two-hundred day moving average is $5.88.

Hedge Fund Involvement

Recently, several large investors have taken positions in Quantum Computing. Tower Research Capital LLC acquired a new stake in the company worth about $30,000 during the 4th quarter. Additionally, IFP Advisors Inc., Farther Finance Advisors LLC, and Archer Investment Corp all invested around $33,000 each in the same timeframe. Moreover, Hollencrest Capital Management also joined in with an investment of approximately $41,000. Institutional investors and hedge funds collectively hold about 4.26% of the company's stock.

About Quantum Computing

Quantum Computing Inc. is a Leader in the Industry, For How Long?

Quantum Computing Inc. is an integrated photonics company focusing on delivering accessible and affordable quantum machines. The firm specializes in Dirac systems, which are portable, low-power quantum computers working at room temperature. They also offer solutions like reservoir computing, remote sensing, and single-photon imaging. Furthermore, Quantum Computing provides a quantum random number generator (uQRNG), a device capable of producing genuine random numbers sourced from quantum processes, alongside quantum authentication services designed to enhance security in communication infrastructures.

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Should You Invest $1,000 in Quantum Computing Right Now?

Before making any investment decisions regarding Quantum Computing, consider the insights from the market's top analysts.

It's important to note that, while Quantum Computing currently holds a Buy rating, some of the leading analysts have identified five alternative stocks that they believe to be better investment opportunities.

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