Quantum Computing Sees Unusually High Options Volume (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) was the target of unusually large options trading activity on Friday. Investors acquired 111,587 call options on the company. This is an increase of approximately 138% compared to the average daily volume of 46,973 call options.

Insider Buying and Selling

In related news, insider Yuping Huang sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the completion of the sale, the insider now owns 24,051,256 shares of the company’s stock, valued at $203,954,650.88. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 31.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Quantum Computing

Several hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing in the 4th quarter valued at $30,000. IFP Advisors Inc bought a new stake in shares of Quantum Computing during the fourth quarter worth about $33,000. Farther Finance Advisors LLC acquired a new stake in shares of Quantum Computing in the 4th quarter worth about $33,000. Archer Investment Corp acquired a new stake in shares of Quantum Computing in the 4th quarter worth about $33,000. Finally, Hollencrest Capital Management bought a new position in Quantum Computing in the 4th quarter valued at about $41,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Stock Up 39.3%

Shares of NASDAQ QUBT opened at $12.87 on Friday. The firm has a market cap of $1.77 billion, a PE ratio of -44.38 and a beta of 3.74. The company’s fifty day simple moving average is $7.45 and its 200 day simple moving average is $8.24. Quantum Computing has a 12-month low of $0.35 and a 12-month high of $27.15.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.42). The firm had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets increased their price target on Quantum Computing from $8.50 to $14.00 and gave the stock a “buy” rating in a report on Monday, April 28th.

Quantum Computing Company Profile

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.