Quantum Computing Sees Unusually Large Options Volume (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) was the target of some unusual options trading activity on Tuesday. Stock traders purchased 53,061 call options on the stock. This represents an increase of approximately 24% compared to the average volume of 42,731 call options.

Quantum Computing Stock Performance

Shares of NASDAQ QUBT traded down $0.83 during trading on Friday, hitting $16.68. 21,413,597 shares of the company traded hands, compared to its average volume of 20,894,696. The business's fifty day moving average is $9.79 and its 200 day moving average is $9.69. Quantum Computing has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of -57.52 and a beta of 3.85.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on QUBT shares. Ascendiant Capital Markets boosted their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a report on Friday, June 6th. Wall Street Zen upgraded shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Insider Activity at Quantum Computing

In related news, CFO Christopher Boehmler sold 83,495 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $19.92, for a total value of $1,663,220.40. Following the transaction, the chief financial officer now owns 47,565 shares in the company, valued at $947,494.80. The trade was a 63.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yuping Huang sold 200,000 shares of the business's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the transaction, the insider now owns 24,051,256 shares in the company, valued at approximately $203,954,650.88. The trade was a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,213,404 shares of company stock worth $15,452,349 over the last quarter. Company insiders own 19.30% of the company's stock.

Hedge Funds Weigh In On Quantum Computing

Institutional investors have recently made changes to their positions in the stock. Alyeska Investment Group L.P. acquired a new stake in shares of Quantum Computing in the 4th quarter worth about $69,613,000. Anson Funds Management LP acquired a new stake in shares of Quantum Computing in the 4th quarter worth about $70,006,000. Vanguard Group Inc. raised its holdings 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 acquiring 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 worth about $7,084,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in shares of Quantum Computing in the 4th quarter worth about $13,953,000. Institutional investors and hedge funds own 4.26% of the company's stock.

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.