Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 16,070,000 shares, a growth of 23.7% from the December 15th total of 12,990,000 shares. Approximately 15.9% of the shares of the company are sold short. Based on an average trading volume of 39,790,000 shares, the short-interest ratio is currently 0.4 days.
Quantum Computing Stock Performance
Quantum Computing stock traded down $1.05 during trading hours on Friday, reaching $9.83. 41,307,107 shares of the stock were exchanged, compared to its average volume of 61,121,204. The firm's 50 day moving average is $10.22 and its 200 day moving average is $4.06. Quantum Computing has a 52-week low of $0.35 and a 52-week high of $27.15. The stock has a market cap of $1.27 billion, a P/E ratio of -33.90 and a beta of 2.83.
Analyst Upgrades and Downgrades
Separately, Ascendiant Capital Markets upped their price target on Quantum Computing from $8.25 to $8.50 and gave the stock a "buy" rating in a research note on Wednesday, November 13th.
Check Out Our Latest Analysis on Quantum Computing
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in QUBT. Virtu Financial LLC grew its holdings in shares of Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock worth $40,000 after acquiring an additional 47,880 shares during the period. XTX Topco Ltd acquired a new stake in Quantum Computing in the third quarter valued at $46,000. Sovereign Financial Group Inc. purchased a new position in shares of Quantum Computing in the fourth quarter valued at $209,000. Diversify Wealth Management LLC purchased a new position in shares of Quantum Computing in the fourth quarter valued at $331,000. Finally, Veracity Capital LLC acquired a new stake in Quantum Computing in the 4th quarter valued at about $343,000. 4.26% of the stock is owned by hedge funds and other institutional investors.
About Quantum Computing
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Quantum Computing, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Quantum Computing wasn't on the list.
While Quantum Computing currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
