Quantum Computing Sees Unusually Large Options Volume (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of unusually large options trading on Tuesday. Traders bought 41,904 call options on the company. This represents an increase of approximately 7% compared to the typical volume of 39,146 call options.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets boosted 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.

Quantum Computing Stock Down 5.9 %

Shares of QUBT traded down $0.68 during mid-day trading on Thursday, hitting $10.87. The company had a trading volume of 102,362,580 shares, compared to its average volume of 52,653,313. Quantum Computing has a 1-year low of $0.35 and a 1-year high of $27.15. The business’s 50-day simple moving average is $9.86 and its 200-day simple moving average is $3.92. The stock has a market cap of $1.40 billion, a PE ratio of -37.43 and a beta of 2.83.

Institutional Trading of Quantum Computing

A number of institutional investors and hedge funds have recently bought and sold shares of QUBT. Sovereign Financial Group Inc. acquired a new position in Quantum Computing during the fourth quarter valued at approximately $209,000. Diversify Wealth Management LLC purchased a new stake in Quantum Computing during the 4th quarter worth $331,000. Virtu Financial LLC boosted its position in Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after purchasing an additional 47,880 shares during the period. XTX Topco Ltd acquired a new stake in Quantum Computing in the 3rd quarter valued at $46,000. Finally, Geode Capital Management LLC raised its position in Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after purchasing an additional 65,486 shares during the period. Institutional investors and hedge funds 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.