Quantum Computing (NASDAQ:QUBT) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) saw unusually-high trading volume on Friday . Approximately 13,481,715 shares changed hands during trading, a decline of 7% from the previous session’s volume of 14,513,507 shares.The stock last traded at $6.62 and had previously closed at $5.49.

Quantum Computing Stock Up 29.1 %

The stock has a market cap of $972.58 million, a P/E ratio of -24.45 and a beta of 3.26. The firm’s 50-day moving average is $8.59 and its two-hundred day moving average is $6.11.

Hedge Funds Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UNICOM Systems Inc. bought a new position in Quantum Computing during the fourth quarter valued at approximately $5,707,000. SBI Securities Co. Ltd. acquired a new position in Quantum Computing during the fourth quarter valued at approximately $1,602,000. SG Americas Securities LLC acquired a new position in Quantum Computing during the fourth quarter valued at approximately $626,000. Virtu Financial LLC grew its holdings in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after purchasing an additional 47,880 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new position in Quantum Computing during the fourth quarter valued at approximately $786,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Company Profile

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.