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

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

Quantum Computing Price Performance

NASDAQ:QUBT traded up $4.38 during trading hours on Monday, reaching $11.08. The company’s stock had a trading volume of 114,065,833 shares, compared to its average volume of 6,903,831. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -38.21 and a beta of 3.11. Quantum Computing has a one year low of $0.35 and a one year high of $12.28. The business’s 50-day moving average is $3.44 and its 200-day moving average is $1.62.

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

Hedge Funds Weigh In On Quantum Computing

A number of institutional investors have recently modified their holdings of QUBT. Virtu Financial LLC boosted its holdings in shares of Quantum Computing by 377.7% during the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after buying an additional 47,880 shares during the period. Geode Capital Management LLC boosted its holdings in Quantum Computing by 10.5% during the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock valued at $449,000 after acquiring an additional 65,486 shares during the period. Finally, XTX Topco Ltd acquired a new stake in shares of Quantum Computing in the third quarter valued at about $46,000. Institutional investors own 4.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets raised their price objective on shares of Quantum Computing from $8.25 to $8.50 and gave the company a “buy” rating in a research report 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.