Quantum Computing Target of Unusually High Options Trading (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of unusually large options trading activity on Monday. Stock investors acquired 29,006 call options on the company. This represents an increase of 271% compared to the average daily volume of 7,810 call options.

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 company a “buy” rating in a report on Wednesday, November 13th.

Quantum Computing Stock Up 65.2 %

Shares of Quantum Computing stock opened at $11.08 on Tuesday. Quantum Computing has a 12-month low of $0.35 and a 12-month high of $12.28. The firm has a market capitalization of $1.13 billion, a PE ratio of -38.21 and a beta of 3.11. The stock’s fifty day moving average is $3.44 and its 200-day moving average is $1.62.

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

Institutional Investors Weigh In On Quantum Computing

Large investors have recently made changes to their positions in the company. XTX Topco Ltd purchased a new position in Quantum Computing during the 3rd quarter worth approximately $46,000. Geode Capital Management LLC boosted its position in shares of Quantum Computing by 10.5% in the third 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 during the period. Finally, Virtu Financial LLC boosted 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 worth $40,000 after buying an additional 47,880 shares during the period. 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.