Investors Buy High Volume of Quantum Computing Call Options (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 53,061 call options on the company. This is an increase of approximately 24% compared to the average volume of 42,731 call options.

Quantum Computing Price Performance

QUBT stock traded up $4.85 during midday trading on Wednesday, hitting $19.98. The stock had a trading volume of 101,201,014 shares, compared to its average volume of 20,396,622. The company's 50-day moving average price is $9.12 and its 200 day moving average price is $9.49. The firm has a market cap of $2.82 billion, a PE ratio of -68.59 and a beta of 3.85. Quantum Computing has a 12-month low of $0.35 and a 12-month high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The company had revenue of $0.06 million for the quarter, compared to analysts' expectations of $0.20 million. During the same period last year, the business earned ($0.09) earnings per share.

Insider Buying and Selling

In related news, Director Javad Shabani sold 39,973 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.66, for a total value of $466,085.18. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Yuping Huang sold 500,000 shares of Quantum Computing stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the transaction, the insider now owns 21,236,906 shares of the company's stock, valued at approximately $248,471,800.20. The trade was a 2.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 739,973 shares of company stock valued at $8,012,085. Corporate insiders own 19.30% of the company's stock.

Institutional Investors Weigh In On Quantum Computing

A number of large investors have recently added to or reduced their stakes in QUBT. Alyeska Investment Group L.P. bought a new stake in shares of Quantum Computing in the fourth quarter worth $69,613,000. Anson Funds Management LP acquired a new position in Quantum Computing during the 4th quarter worth $70,006,000. Vanguard Group Inc. increased its position in shares of Quantum Computing by 83.6% in the 4th quarter. Vanguard Group Inc. now owns 4,186,729 shares of the company's stock worth $69,290,000 after purchasing an additional 1,906,749 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Quantum Computing in the 1st quarter valued at about $7,084,000. Finally, Rockefeller Capital Management L.P. bought a new position in shares of Quantum Computing during the fourth quarter worth about $13,953,000. 4.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QUBT has been the subject of a number of recent research reports. Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Ascendiant Capital Markets raised their price target on Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a research report on Friday, June 6th.

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.