Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Up 173.2% in November

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 11,910,000 shares, an increase of 173.2% from the October 31st total of 4,360,000 shares. Approximately 13.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 16,220,000 shares, the days-to-cover ratio is presently 0.7 days.

Quantum Computing Trading Up 4.6 %

Shares of NASDAQ:QUBT traded up $0.31 on Friday, hitting $7.06. The company had a trading volume of 24,711,430 shares, compared to its average volume of 5,712,573. Quantum Computing has a 52-week low of $0.35 and a 52-week high of $9.20. The business has a 50 day moving average of $1.98 and a 200 day moving average of $1.11. The company has a market cap of $721.67 million, a PE ratio of -24.34 and a beta of 1.64.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Quantum Computing

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TRUE Private Wealth Advisors increased its stake in Quantum Computing by 318.1% during the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after acquiring an additional 50,000 shares during the last quarter. Virtu Financial LLC grew its stake in shares of Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock valued at $40,000 after buying an additional 47,880 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Quantum Computing in the third quarter valued at about $46,000. PEAK6 Investments LLC acquired a new stake in shares of Quantum Computing in the first quarter valued at about $129,000. Finally, Geode Capital Management LLC grew its stake in shares of Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after buying an additional 65,486 shares in the last quarter. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.