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

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 53,070 call options on the company. This represents an increase of 43% compared to the average daily volume of 37,205 call options.

Insider Transactions at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 9,360 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total value of $73,476.00. Following the completion of the sale, the chief financial officer directly owned 1,123,038 shares in the company, valued at approximately $8,815,848.30. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in QUBT. Aventura Private Wealth LLC acquired a new position in shares of Quantum Computing during the fourth quarter worth $26,000. International Assets Investment Management LLC acquired a new stake in Quantum Computing in the fourth quarter valued at $26,000. Rhumbline Advisers acquired a new stake in Quantum Computing in the first quarter valued at $28,000. Tucker Asset Management LLC acquired a new stake in Quantum Computing in the fourth quarter valued at $29,000. Finally, Toth Financial Advisory Corp raised its holdings in Quantum Computing by 50.0% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock valued at $31,000 after acquiring an additional 1,000 shares in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

Quantum Computing Trading Down 2.3%

NASDAQ QUBT opened at $11.96 on Friday. The company’s fifty day simple moving average is $9.00 and its 200-day simple moving average is $9.88. Quantum Computing has a 52 week low of $6.18 and a 52 week high of $25.84. The stock has a market cap of $2.70 billion, a P/E ratio of -42.71 and a beta of 3.70.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Monday, May 11th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $3.69 million for the quarter, compared to analyst estimates of $3.13 million. On average, research analysts expect that Quantum Computing will post -0.14 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on QUBT shares. Northland Securities started coverage on shares of Quantum Computing in a research report on Monday, April 20th. They set an “outperform” rating and a $20.00 price target on the stock. Wall Street Zen raised shares of Quantum Computing from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a research report on Tuesday, March 3rd. Cantor Fitzgerald reduced their price target on shares of Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research report on Friday, March 27th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $17.50.

About Quantum Computing

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.