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

Quantum Computing Inc. (NASDAQ:QUBT) saw some unusual options trading on Tuesday. Investors purchased 41,904 call options on the company. This is an increase of 7% compared to the average volume of 39,146 call options.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets boosted their price target 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.

Quantum Computing Stock Up 14.0 %

QUBT stock traded up $0.91 during trading hours on Tuesday, hitting $7.43. The company’s stock had a trading volume of 41,859,623 shares, compared to its average volume of 38,666,875. Quantum Computing has a 12 month low of $0.35 and a 12 month high of $27.15. The stock has a 50 day moving average price of $9.53 and a two-hundred day moving average price of $3.82. The company has a market capitalization of $958.19 million, a PE ratio of -25.62 and a beta of 2.83.

Institutional Trading of Quantum Computing

Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in shares of Quantum Computing in the 3rd quarter valued at approximately $46,000. Geode Capital Management LLC grew its position in Quantum Computing by 10.5% in 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. Virtu Financial LLC raised its stake in 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 acquiring an additional 47,880 shares in the last quarter. Finally, Sovereign Financial Group Inc. bought a new position in shares of Quantum Computing during the fourth quarter valued at $209,000. 4.26% of the stock is owned by institutional investors.

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.