Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) dropped 6.4% on Tuesday . The stock traded as low as $16.31 and last traded at $17.03. Approximately 17,405,030 shares were traded during mid-day trading, an increase of 78% from the average daily volume of 9,757,801 shares. The stock had previously closed at $18.19.

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

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The company has a market capitalization of $2.03 billion, a PE ratio of -58.93 and a beta of 3.07. The firm has a fifty day simple moving average of $5.24 and a 200 day simple moving average of $2.26.

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

Several hedge funds and other institutional investors have recently modified their holdings of QUBT. XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter worth $46,000. Geode Capital Management LLC boosted its stake in Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock worth $449,000 after buying an additional 65,486 shares during the last quarter. Finally, Virtu Financial LLC grew its stake in shares of Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after buying an additional 47,880 shares during the period. 4.26% of the stock is owned by hedge funds and other institutional investors.

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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