Quantum Computing Inc. (NASDAQ:QUBT) Sees Significant Increase in Short Interest

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 11,910,000 shares, a growth of 173.2% from the October 31st total of 4,360,000 shares. Currently, 13.8% of the shares of the company are sold short. Based on an average daily volume of 16,220,000 shares, the short-interest ratio is currently 0.7 days.

Quantum Computing Price Performance

QUBT stock traded up $0.10 during trading on Thursday, hitting $6.75. 47,840,148 shares of the company traded hands, compared to its average volume of 5,628,578. The company has a market cap of $689.99 million, a PE ratio of -23.28 and a beta of 1.64. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $9.20. The stock's 50-day simple moving average is $1.73 and its 200 day simple moving average is $1.03.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $0.18 million during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of QUBT. Virtu Financial LLC grew 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 acquiring an additional 47,880 shares during the period. Geode Capital Management LLC raised its stake 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 worth $449,000 after buying an additional 65,486 shares during the period. XTX Topco Ltd purchased a new position in shares of Quantum Computing during the 3rd quarter valued at approximately $46,000. TRUE Private Wealth Advisors grew its stake in Quantum Computing by 318.1% in the 2nd 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 period. Finally, PEAK6 Investments LLC purchased a new stake in Quantum Computing in the 1st quarter worth $129,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lifted their price objective 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.