Quantum Computing Inc. (NASDAQ:QUBT) Sees Significant Decrease in Short Interest

Quantum Computing Inc. (NASDAQ:QUBT) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totalling 2,650,000 shares, a drop of 18.7% from the June 30th total of 3,260,000 shares. Based on an average daily trading volume, of 968,800 shares, the days-to-cover ratio is presently 2.7 days. Approximately 4.1% of the company’s stock are short sold.

Institutional Investors Weigh In On Quantum Computing

Large investors have recently made changes to their positions in the stock. Independence Bank of Kentucky purchased a new position in Quantum Computing in the 1st quarter worth $25,000. TRUE Private Wealth Advisors raised its stake in shares of Quantum Computing by 318.1% in the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after purchasing an additional 50,000 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of Quantum Computing by 17.7% during the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after purchasing an additional 14,326 shares during the period. Finally, PEAK6 Investments LLC acquired a new stake in shares of Quantum Computing during the first quarter worth about $129,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Quantum Computing Price Performance

Shares of QUBT stock traded down $0.05 during trading hours on Tuesday, reaching $0.66. 730,355 shares of the company’s stock were exchanged, compared to its average volume of 1,260,547. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $1.63. The stock’s fifty day moving average price is $0.64 and its two-hundred day moving average price is $0.79.

Quantum Computing (NASDAQ:QUBT) last released its earnings results on Tuesday, June 11th. The company reported ($0.08) EPS for the quarter. The company had revenue of $0.03 million for the quarter.

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.