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

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of some unusual options trading activity on Thursday. Investors bought 25,299 call options on the stock. This represents an increase of approximately 4,315% compared to the average daily volume of 573 call options.

Institutional Investors Weigh In On Quantum Computing

Hedge funds have recently modified their holdings of the company. PEAK6 Investments LLC acquired a new position in Quantum Computing during the first quarter worth approximately $129,000. TRUE Private Wealth Advisors grew 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 valued at $33,000 after buying an additional 50,000 shares during the period. Finally, Virtu Financial LLC increased its holdings 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 buying an additional 14,326 shares during the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

Quantum Computing Trading Up 48.5 %

Shares of QUBT stock traded up $1.29 during trading hours on Thursday, hitting $3.95. The company’s stock had a trading volume of 120,975,039 shares, compared to its average volume of 2,313,873. Quantum Computing has a twelve month low of $0.35 and a twelve month high of $4.07. The stock has a market cap of $391.39 million, a price-to-earnings ratio of -11.21 and a beta of 1.64. The business has a fifty day moving average of $0.90 and a 200-day moving average of $0.75.

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

Wall Street Analyst Weigh In

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

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.