Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price traded down 33.3% during mid-day trading on Thursday . The company traded as low as $15.66 and last traded at $17.13. 63,702,411 shares were traded during mid-day trading, an increase of 624% from the average session volume of 8,799,881 shares. The stock had previously closed at $25.68.

Separately, Ascendiant Capital Markets boosted their target price on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a report on Wednesday, November 13th.

View Our Latest Report on QUBT

The stock has a fifty day moving average of $3.76 and a 200 day moving average of $1.74. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of -52.28 and a beta of 3.11.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The company had revenue of $0.18 million during the quarter.

A number of large investors have recently modified their holdings of QUBT. Geode Capital Management LLC grew its position in shares of Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock valued at $449,000 after purchasing an additional 65,486 shares in the last quarter. XTX Topco Ltd purchased a new position in Quantum Computing during the third quarter worth approximately $46,000. Finally, Virtu Financial LLC boosted its stake in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after buying an additional 47,880 shares during the last quarter. Hedge funds and other institutional investors own 4.26% of the company's stock.

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.

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