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

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 25,140,000 shares, an increase of 29.8% from the January 15th total of 19,370,000 shares. Approximately 23.0% of the shares of the company are short sold. Based on an average daily volume of 49,110,000 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Quantum Computing

A number of institutional investors and hedge funds have recently modified their holdings of QUBT. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing during the fourth quarter worth $30,000. Archer Investment Corp bought a new position in shares of Quantum Computing during the 4th quarter worth about $33,000. IFP Advisors Inc bought a new stake in Quantum Computing in the fourth quarter valued at about $33,000. Farther Finance Advisors LLC acquired a new position in Quantum Computing in the fourth quarter worth about $33,000. Finally, Virtu Financial LLC raised its position in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after purchasing an additional 47,880 shares in the last quarter. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Trading Up 7.9 %

QUBT traded up $0.58 on Wednesday, hitting $7.96. 24,659,956 shares of the stock traded hands, compared to its average volume of 30,386,328. The business has a fifty day moving average price of $12.12 and a two-hundred day moving average price of $5.48. Quantum Computing has a 52 week low of $0.35 and a 52 week high of $27.15. The firm has a market capitalization of $1.09 billion, a PE ratio of -27.45 and a beta of 2.75.

Wall Street Analyst Weigh In

Separately, Ascendiant Capital Markets raised their price target on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a research report on Wednesday, November 13th.

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.