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

Quantum Computing Inc. (NASDAQ:QUBT) saw some unusual options trading on Tuesday. Investors acquired 41,904 call options on the company. This represents an increase of 7% compared to the typical volume of 39,146 call options.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in Quantum Computing in the third quarter valued at about $46,000. Geode Capital Management LLC grew 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 valued at $449,000 after purchasing an additional 65,486 shares during the period. Virtu Financial LLC increased its stake 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 purchasing an additional 47,880 shares in the last quarter. Finally, Sovereign Financial Group Inc. acquired a new stake in Quantum Computing in the fourth quarter worth $209,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets increased their price objective on Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Quantum Computing Price Performance

Shares of NASDAQ QUBT traded up $0.91 during mid-day trading on Tuesday, hitting $7.43. The company’s stock had a trading volume of 41,859,623 shares, compared to its average volume of 38,666,875. Quantum Computing has a one year low of $0.35 and a one year high of $27.15. The company’s fifty day simple moving average is $9.53 and its 200-day simple moving average is $3.82. The stock has a market cap of $958.19 million, a price-to-earnings ratio of -25.62 and a beta of 2.83.

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.