Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) was the recipient of unusually large options trading activity on Monday. Traders acquired 29,006 call options on the company. This is an increase of approximately 271% compared to the average volume of 7,810 call options.
Institutional Trading of Quantum Computing
Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company's stock valued at $449,000 after buying an additional 65,486 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Quantum Computing in the third quarter worth approximately $46,000. Finally, Virtu Financial LLC boosted its holdings in Quantum Computing by 377.7% in the third quarter. Virtu Financial LLC now owns 60,557 shares of the company's stock valued at $40,000 after acquiring an additional 47,880 shares during the last quarter. 4.26% of the stock is currently owned by institutional investors and hedge funds.
Quantum Computing Stock Up 65.2 %
Shares of QUBT stock traded up $4.38 during mid-day trading on Monday, reaching $11.08. 114,065,833 shares of the stock traded hands, 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 -30.45 and a beta of 3.11. The stock's fifty day simple moving average is $3.23 and its two-hundred day simple moving average is $1.55. Quantum Computing has a 1-year low of $0.35 and a 1-year high of $12.28.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its earnings results on Wednesday, October 2nd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.18 million for the quarter.
Wall Street Analyst Weigh In
Separately, Ascendiant Capital Markets increased their price target on Quantum Computing from $8.25 to $8.50 and gave the company a "buy" rating in a research note on Wednesday, November 13th.
Read Our Latest Stock Analysis on QUBT
About Quantum Computing
(
Get Free Report)
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.
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