Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Update

Quantum Computing Inc. (NASDAQ:QUBT) was the target of a large decrease in short interest in February. As of February 15th, there was short interest totalling 20,230,000 shares, a decrease of 19.5% from the January 31st total of 25,140,000 shares. Based on an average daily volume of 44,130,000 shares, the short-interest ratio is presently 0.5 days. Currently, 18.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently made changes to their positions in QUBT. XTX Topco Ltd bought a new stake in shares of Quantum Computing during the 3rd quarter valued at about $46,000. Geode Capital Management LLC boosted its position in shares of Quantum Computing by 10.5% during the 3rd 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 in the last quarter. Virtu Financial LLC boosted its position in shares of Quantum Computing by 377.7% during the 3rd 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. Sovereign Financial Group Inc. bought a new stake in shares of Quantum Computing during the 4th quarter valued at about $209,000. Finally, Diversify Wealth Management LLC bought a new position in Quantum Computing in the fourth quarter worth approximately $331,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Stock Performance

Shares of QUBT stock traded down $0.17 on Tuesday, hitting $5.26. The company had a trading volume of 11,145,261 shares, compared to its average volume of 26,176,410. The firm has a market cap of $721.55 million, a P/E ratio of -18.14 and a beta of 3.26. The stock’s 50-day moving average is $10.83 and its two-hundred day moving average is $5.85. Quantum Computing has a twelve month low of $0.35 and a twelve month high of $27.15.

Analyst Ratings Changes

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

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.