Investors Buy Large Volume of Quantum Computing Call Options (NASDAQ:QUBT)

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

Analyst Upgrades and Downgrades

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

Quantum Computing Price Performance

Shares of QUBT stock traded down $1.30 on Friday, reaching $3.10. 53,358,059 shares of the stock were exchanged, compared to its average volume of 3,045,725. Quantum Computing has a one year low of $0.35 and a one year high of $4.69. The stock has a market cap of $307.18 million, a PE ratio of -10.69 and a beta of 1.64. The stock has a 50 day moving average price of $1.03 and a 200 day moving average price of $0.79.

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

Institutional Trading of Quantum Computing

Institutional investors have recently bought and sold shares of the business. PEAK6 Investments LLC acquired a new position in Quantum Computing during the first quarter valued at approximately $129,000. Virtu Financial LLC grew its holdings in shares of Quantum Computing by 17.7% in the 1st quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock valued at $94,000 after buying an additional 14,326 shares during the period. TRUE Private Wealth Advisors increased its position in shares of Quantum Computing by 318.1% in 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 in the last quarter. XTX Topco Ltd acquired a new stake in Quantum Computing during the 3rd quarter worth $46,000. Finally, Geode Capital Management LLC lifted its holdings in Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after acquiring an additional 65,486 shares in the last quarter. Institutional investors and hedge funds own 4.26% of the company’s stock.

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.