Short Interest in Quantum Computing Inc. (NASDAQ:QUBT) Increases By 23.7%

Quantum Computing Inc. (NASDAQ:QUBT) saw a significant growth in short interest in 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. Based on an average daily volume of 39,790,000 shares, the days-to-cover ratio is currently 0.4 days. Approximately 15.9% of the company’s stock are short sold.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Veracity Capital LLC bought a new position in shares of Quantum Computing during the fourth quarter valued at about $343,000. Janney Montgomery Scott LLC bought a new stake in shares of Quantum Computing during the 4th quarter valued at $786,000. SG Americas Securities LLC bought a new position in shares of Quantum Computing in the 4th quarter worth about $626,000. Diversify Wealth Management LLC bought a new position in Quantum Computing during the 4th quarter valued at approximately $331,000. Finally, Sovereign Financial Group Inc. purchased a new position in Quantum Computing in the fourth quarter worth about $209,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, November 13th.

Quantum Computing Trading Down 9.7 %

Shares of QUBT stock traded down $1.05 during trading on Friday, reaching $9.83. 41,307,107 shares of the company’s stock traded hands, compared to its average volume of 61,121,204. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $27.15. The firm’s 50-day moving average is $10.22 and its 200 day moving average is $4.06. The company has a market capitalization of $1.27 billion, a P/E ratio of -33.90 and a beta of 2.83.

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.