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

Quantum Computing Inc. (NASDAQ:QUBT) was the target of unusually large options trading on Monday. Traders bought 29,006 call options on the company. This represents an increase of approximately 271% compared to the typical daily volume of 7,810 call options.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of QUBT. Geode Capital Management LLC lifted its holdings in shares of Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares during the period. XTX Topco Ltd purchased a new stake in shares of Quantum Computing in the third quarter valued at about $46,000. Finally, Virtu Financial LLC raised its holdings in Quantum Computing by 377.7% during 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 hedge funds and other institutional investors.

Analyst Ratings Changes

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

Quantum Computing Stock Up 39.0 %

NASDAQ:QUBT traded up $2.62 during trading hours on Monday, reaching $9.33. 36,721,008 shares of the company’s stock were exchanged, compared to its average volume of 6,562,633. The firm has a market capitalization of $953.71 million, a price-to-earnings ratio of -30.45 and a beta of 3.11. Quantum Computing has a 1-year low of $0.35 and a 1-year high of $9.38. The company has a 50-day moving average of $3.23 and a 200 day moving average of $1.55.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.18 million for the quarter.

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.