Quantum Computing Target of Unusually Large Options Trading (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) was the target of some unusual options trading activity on Monday. Investors purchased 29,006 call options on the stock. This represents an increase of approximately 271% compared to the average volume of 7,810 call options.

Quantum Computing Trading Up 51.5 %

QUBT opened at $16.79 on Wednesday. Quantum Computing has a twelve month low of $0.35 and a twelve month high of $18.06. The firm has a market capitalization of $1.72 billion, a PE ratio of -57.90 and a beta of 3.11. The firm’s 50-day moving average price is $3.44 and its 200 day moving average price is $1.62.

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

Hedge Funds Weigh In On Quantum Computing

Institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings 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 acquiring an additional 65,486 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Quantum Computing during the 3rd quarter worth $46,000. Finally, Virtu Financial LLC raised its holdings in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after buying an additional 47,880 shares during the period. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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