Traders Purchase High Volume of Call Options on Quantum Computing (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) saw unusually large options trading on Tuesday. Traders purchased 41,904 call options on the stock. This is an increase of approximately 7% compared to the average daily volume of 39,146 call options.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets raised 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.

Institutional Investors Weigh In On Quantum Computing

Institutional investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new stake in shares of Quantum Computing in the 3rd quarter valued at about $46,000. Geode Capital Management LLC raised its stake 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 worth $449,000 after buying an additional 65,486 shares in the last quarter. Virtu Financial LLC increased its holdings in 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. Diversify Wealth Management LLC acquired a new stake in Quantum Computing in the fourth quarter valued at $331,000. Finally, Sovereign Financial Group Inc. purchased a new position in Quantum Computing during the 4th quarter valued at about $209,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Quantum Computing Price Performance

Shares of NASDAQ:QUBT traded down $0.68 during mid-day trading on Thursday, reaching $10.87. 102,362,580 shares of the company were exchanged, compared to its average volume of 52,653,313. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -37.43 and a beta of 2.83. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $27.15. The firm’s 50-day simple moving average is $9.86 and its 200 day simple moving average is $3.92.

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.