Quantum Computing Inc. (NASDAQ:QUBT) Sees Significant Increase in Short Interest

Quantum Computing Inc. (NASDAQ:QUBT) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 16,070,000 shares, an increase of 23.7% from the December 15th total of 12,990,000 shares. Based on an average trading volume of 39,790,000 shares, the short-interest ratio is currently 0.4 days. Currently, 15.9% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

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

Quantum Computing Trading Down 9.7 %

Quantum Computing stock traded down $1.05 during midday trading on Friday, hitting $9.83. 41,307,107 shares of the stock were exchanged, compared to its average volume of 61,121,204. The stock’s 50-day simple moving average is $10.22 and its 200 day simple moving average is $4.06. Quantum Computing has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -33.90 and a beta of 2.83.

Institutional Trading of Quantum Computing

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

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.