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

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of unusually large options trading on Monday. Stock traders bought 29,006 call options on the company. This is an increase of approximately 271% compared to the typical volume of 7,810 call options.

Quantum Computing Price Performance

Shares of Quantum Computing stock opened at $16.79 on Wednesday. The stock has a market cap of $1.72 billion, a PE ratio of -57.90 and a beta of 3.11. The firm has a fifty day moving average price of $3.44 and a 200 day moving average price of $1.62. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $18.06.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of QUBT. Geode Capital Management LLC grew its position in shares of Quantum Computing by 10.5% during the 3rd 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 period. XTX Topco Ltd acquired a new stake in Quantum Computing in the third quarter valued at approximately $46,000. Finally, Virtu Financial LLC increased its position in shares of Quantum Computing by 377.7% in the third 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 in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets upped 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.