Traders Buy High Volume of Call Options on Quantum Computing (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) saw some unusual options trading on Thursday. Stock traders bought 25,299 call options on the stock. This is an increase of 4,315% compared to the typical daily volume of 573 call options.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets boosted their target price on shares of Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday.

Quantum Computing Trading Down 32.3 %

Shares of QUBT traded down $1.42 during trading hours on Friday, reaching $2.98. The stock had a trading volume of 20,686,225 shares, compared to its average volume of 2,881,072. Quantum Computing has a 12 month low of $0.35 and a 12 month high of $4.69. The company has a market capitalization of $295.29 million, a price-to-earnings ratio of -11.07 and a beta of 1.64. The firm has a 50-day simple moving average of $0.98 and a 200 day simple moving average of $0.77.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.18 million during the quarter.

Institutional Trading of Quantum Computing

Several institutional investors and hedge funds have recently added to or reduced their stakes in QUBT. TRUE Private Wealth Advisors grew its stake in Quantum Computing by 318.1% during the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after buying an additional 50,000 shares during the last quarter. Virtu Financial LLC boosted its position in shares of Quantum Computing by 17.7% during the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after buying an additional 14,326 shares during the period. Finally, PEAK6 Investments LLC acquired a new stake in shares of Quantum Computing in the first quarter valued at $129,000. Institutional investors 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.