Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Up 22.6% in November

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 14,600,000 shares, an increase of 22.6% from the November 15th total of 11,910,000 shares. Based on an average daily volume of 19,860,000 shares, the short-interest ratio is presently 0.7 days. Approximately 16.9% of the shares of the stock are short sold.

Quantum Computing Stock Up 5.4 %

Quantum Computing stock traded up $0.34 during mid-day trading on Friday, hitting $6.71. 19,023,146 shares of the company were exchanged, compared to its average volume of 6,460,015. The company has a market capitalization of $685.39 million, a PE ratio of -23.12 and a beta of 3.11. The business has a fifty day moving average of $3.23 and a 200 day moving average of $1.55. Quantum Computing has a 1-year low of $0.35 and a 1-year high of $9.20.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $0.18 million for the quarter.

Institutional Trading of Quantum Computing

Hedge funds have recently modified their holdings of the company. XTX Topco Ltd bought a new stake in Quantum Computing during the 3rd quarter worth approximately $46,000. Geode Capital Management LLC boosted its stake in Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in shares of Quantum Computing by 377.7% during the third quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after purchasing an additional 47,880 shares during the last quarter. Institutional investors and hedge funds own 4.26% of the company’s stock.

Analysts Set New Price Targets

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

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.