Short Interest in Quantum Computing Inc. (NASDAQ:QUBT) Grows By 29.8%

Quantum Computing Inc. (NASDAQ:QUBT) saw a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 25,140,000 shares, a growth of 29.8% from the January 15th total of 19,370,000 shares. Based on an average daily trading volume, of 49,110,000 shares, the short-interest ratio is presently 0.5 days. Approximately 23.0% of the company’s stock are short sold.

Quantum Computing Price Performance

Shares of NASDAQ QUBT traded down $0.33 during trading hours on Friday, hitting $7.95. 12,497,404 shares of the company’s stock were exchanged, compared to its average volume of 32,462,944. Quantum Computing has a 1-year low of $0.35 and a 1-year high of $27.15. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -27.41 and a beta of 2.75. The company’s 50-day moving average price is $12.08 and its 200-day moving average price is $5.36.

Hedge Funds Weigh In On Quantum Computing

Several large investors have recently made changes to their positions in QUBT. Tower Research Capital LLC TRC acquired a new position in Quantum Computing in the 4th quarter valued at approximately $30,000. Archer Investment Corp acquired a new position in Quantum Computing in the 4th quarter valued at approximately $33,000. IFP Advisors Inc acquired a new position in Quantum Computing in the 4th quarter valued at approximately $33,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing in the 4th quarter valued at approximately $33,000. 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 acquiring an additional 47,880 shares in the last quarter. Institutional investors and hedge funds own 4.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets boosted their price objective on Quantum Computing from $8.25 to $8.50 and gave the stock 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.