Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Update

Quantum Computing Inc. (NASDAQ:QUBT) was the target of a large drop in short interest in February. As of February 15th, there was short interest totalling 20,230,000 shares, a drop of 19.5% from the January 31st total of 25,140,000 shares. Approximately 18.2% of the company’s stock are sold short. Based on an average trading volume of 44,130,000 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Quantum Computing

Several large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new stake in Quantum Computing in the 4th quarter worth about $30,000. IFP Advisors Inc purchased a new stake in Quantum Computing in the 4th quarter worth about $33,000. Farther Finance Advisors LLC purchased a new stake in Quantum Computing in the 4th quarter worth about $33,000. Archer Investment Corp purchased a new position in Quantum Computing during the 4th quarter valued at about $33,000. Finally, Hollencrest Capital Management bought a new stake in shares of Quantum Computing during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Quantum Computing Price Performance

Shares of Quantum Computing stock traded down $0.17 during trading hours on Tuesday, hitting $5.26. 11,145,261 shares of the company’s stock traded hands, compared to its average volume of 26,176,410. Quantum Computing has a 12-month low of $0.35 and a 12-month high of $27.15. The stock has a market capitalization of $721.55 million, a price-to-earnings ratio of -18.14 and a beta of 3.26. The company has a fifty day simple moving average of $10.83 and a 200-day simple moving average of $5.85.

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.