Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Up 23.7% in December

Quantum Computing Inc. (NASDAQ:QUBT) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 16,070,000 shares, a growth of 23.7% from the December 15th total of 12,990,000 shares. Based on an average trading volume of 39,790,000 shares, the short-interest ratio is currently 0.4 days. Currently, 15.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Quantum Computing

Institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC grew its holdings in Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after acquiring an additional 47,880 shares during the period. XTX Topco Ltd purchased a new position in shares of Quantum Computing in the third quarter valued at approximately $46,000. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 65,486 shares during the last quarter. Sovereign Financial Group Inc. purchased a new stake in Quantum Computing during the 4th quarter valued at about $209,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $786,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Price Performance

Shares of NASDAQ:QUBT traded down $1.05 during trading hours on Friday, hitting $9.83. The company’s stock had a trading volume of 41,307,107 shares, compared to its average volume of 61,121,204. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -33.90 and a beta of 2.83. The firm’s fifty day moving average price is $10.22 and its 200 day moving average price is $4.06. Quantum Computing has a 52 week low of $0.35 and a 52 week high of $27.15.

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.