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. Approximately 15.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 39,790,000 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

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

Quantum Computing Price Performance

QUBT stock traded down $1.05 during midday trading on Friday, hitting $9.83. The stock had a trading volume of 41,307,107 shares, compared to its average volume of 61,121,204. The company’s 50-day moving average price is $10.22 and its 200 day moving average price is $4.06. The firm has a market cap of $1.27 billion, a PE ratio of -33.90 and a beta of 2.83. Quantum Computing has a 12-month low of $0.35 and a 12-month high of $27.15.

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.