Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Up 173.2% in November

Quantum Computing Inc. (NASDAQ:QUBT) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 11,910,000 shares, a growth of 173.2% from the October 31st total of 4,360,000 shares. Approximately 13.8% of the company’s stock are short sold. Based on an average daily trading volume, of 16,220,000 shares, the short-interest ratio is presently 0.7 days.

Quantum Computing Price Performance

QUBT traded up $0.31 on Friday, reaching $7.06. The company’s stock had a trading volume of 24,711,430 shares, compared to its average volume of 5,712,573. The stock has a market cap of $721.67 million, a price-to-earnings ratio of -24.34 and a beta of 1.64. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $9.20. The business’s 50 day moving average is $1.98 and its 200 day moving average is $1.11.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The business had revenue of $0.18 million during the quarter.

Institutional Trading of Quantum Computing

Several institutional investors and hedge funds have recently bought and sold shares of the company. Virtu Financial LLC raised its stake in Quantum Computing by 17.7% during the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock valued at $94,000 after buying an additional 14,326 shares in the last quarter. TRUE Private Wealth Advisors raised its position in shares of Quantum Computing by 318.1% during the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after purchasing an additional 50,000 shares during the period. Geode Capital Management LLC raised its position in shares of Quantum Computing by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares during the period. XTX Topco Ltd acquired a new stake in shares of Quantum Computing during the 3rd quarter worth approximately $46,000. Finally, PEAK6 Investments LLC acquired a new stake in shares of Quantum Computing during the 1st quarter worth approximately $129,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets increased their price target on Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a report on Wednesday, November 13th.

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.