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

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) saw some unusual options trading on Friday. Investors purchased 69,109 call options on the company. This is an increase of approximately 31% compared to the typical daily volume of 52,594 call options.

Insider Transactions at Quantum Computing

In other Quantum Computing news, Director Michael C. Turmelle sold 200,986 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $14.18, for a total value of $2,849,981.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yuping Huang sold 500,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.70, for a total value of $5,850,000.00. Following the completion of the sale, the insider owned 21,236,906 shares in the company, valued at approximately $248,471,800.20. The trade was a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,059,844 shares of company stock worth $14,685,149 in the last ninety days. 19.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Quantum Computing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QUBT. Rhumbline Advisers acquired a new position in shares of Quantum Computing in the first quarter valued at approximately $28,000. Tower Research Capital LLC TRC acquired a new position in shares of Quantum Computing during the fourth quarter worth $30,000. Hollencrest Capital Management boosted its holdings in Quantum Computing by 60.0% in the first quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after purchasing an additional 1,500 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Quantum Computing in the fourth quarter worth $33,000. Finally, Farther Finance Advisors LLC acquired a new stake in Quantum Computing during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on QUBT shares. Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Quantum Computing Price Performance

Shares of QUBT stock traded up $1.88 during mid-day trading on Monday, hitting $19.17. The stock had a trading volume of 31,911,476 shares, compared to its average volume of 22,303,488. 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 cap of $2.70 billion, a PE ratio of -39.94 and a beta of 3.85. The company's 50-day simple moving average is $12.40 and its 200-day simple moving average is $10.62.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.18. The business had revenue of $0.04 million during the quarter, compared to analysts' expectations of $0.30 million.

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.