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

Quantum Computing Inc. (NASDAQ:QUBT) was the target of unusually large options trading on Thursday. Investors bought 25,299 call options on the stock. This is an increase of approximately 4,315% compared to the typical daily volume of 573 call options.

Institutional Investors Weigh In On Quantum Computing

Several hedge funds have recently made changes to their positions in the stock. TRUE Private Wealth Advisors boosted its stake in Quantum Computing by 318.1% in the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock valued at $33,000 after acquiring 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 1st quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after acquiring an additional 14,326 shares during the period. Finally, PEAK6 Investments LLC acquired a new position in Quantum Computing during the 1st quarter worth approximately $129,000. Institutional investors own 4.26% of the company’s stock.

Analyst Upgrades and Downgrades

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 note on Wednesday.

Quantum Computing Trading Down 32.3 %

QUBT traded down $1.42 on Friday, hitting $2.98. 20,686,225 shares of the company’s stock were exchanged, compared to its average volume of 2,881,072. The stock has a fifty day moving average of $0.98 and a two-hundred day moving average of $0.77. Quantum Computing has a twelve month low of $0.35 and a twelve month high of $4.69. The firm has a market cap of $295.29 million, a PE ratio of -11.07 and a beta of 1.64.

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

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.