Short Interest in Quantum Computing Inc. (NASDAQ:QUBT) Declines By 26.6%

Quantum Computing Inc. (NASDAQ:QUBT) was the target of a large decline in short interest in September. As of September 15th, there was short interest totalling 2,070,000 shares, a decline of 26.6% from the August 31st total of 2,820,000 shares. Currently, 3.1% of the shares of the stock are short sold. Based on an average trading volume of 738,000 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently made changes to their positions in QUBT. Independence Bank of Kentucky acquired a new position in Quantum Computing during the first quarter worth about $25,000. TRUE Private Wealth Advisors increased its stake 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 in the last quarter. Virtu Financial LLC raised its position in shares of Quantum Computing by 17.7% during the 1st quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after purchasing an additional 14,326 shares during the last quarter. Finally, PEAK6 Investments LLC purchased a new stake in Quantum Computing in the 1st quarter valued at approximately $129,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Quantum Computing Price Performance

QUBT remained flat at $0.67 during trading on Friday. The company’s stock had a trading volume of 615,884 shares, compared to its average volume of 1,077,854. The firm has a market capitalization of $60.97 million, a P/E ratio of -2.15 and a beta of 1.73. Quantum Computing has a one year low of $0.35 and a one year high of $1.32. The stock’s 50-day moving average price is $0.65 and its 200 day moving average price is $0.73.

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.