Short Interest in Quantum Computing Inc. (NASDAQ:QUBT) Decreases By 18.7%

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 2,650,000 shares, a decrease of 18.7% from the June 30th total of 3,260,000 shares. Based on an average daily volume of 968,800 shares, the short-interest ratio is currently 2.7 days. Currently, 4.1% of the company’s stock are short sold.

Quantum Computing Stock Performance

Shares of QUBT stock traded up $0.06 during trading hours on Friday, reaching $0.74. The company had a trading volume of 1,564,220 shares, compared to its average volume of 1,247,063. The company has a market capitalization of $67.28 million, a P/E ratio of -2.38 and a beta of 1.77. Quantum Computing has a twelve month low of $0.35 and a twelve month high of $1.63. The stock’s fifty day simple moving average is $0.65 and its 200 day simple moving average is $0.79.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Tuesday, June 11th. The company reported ($0.08) EPS for the quarter. The business had revenue of $0.03 million for the quarter.

Hedge Funds Weigh In On Quantum Computing

A number of hedge funds have recently bought and sold shares of the company. Virtu Financial LLC lifted its holdings in Quantum Computing by 17.7% during the 1st 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 last quarter. Independence Bank of Kentucky bought a new position in Quantum Computing during the first quarter worth $25,000. TRUE Private Wealth Advisors boosted its holdings in Quantum Computing by 318.1% in the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after purchasing an additional 50,000 shares during the period. Finally, PEAK6 Investments LLC acquired a new position in Quantum Computing in the first quarter worth $129,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.