Traders Buy High Volume of Quantum Computing Call Options (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of some unusual options trading activity on Friday. Stock investors bought 69,109 call options on the stock. This is an increase of 31% compared to the average daily volume of 52,594 call options.

Insider Activity

In other Quantum Computing news, insider Yuping Huang sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.70, for a total transaction of $5,850,000.00. Following the completion of the transaction, the insider now owns 21,236,906 shares of the company’s stock, valued at approximately $248,471,800.20. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Christopher Boehmler sold 92,271 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $15.00, for a total transaction of $1,384,065.00. Following the transaction, the chief financial officer now directly owns 227,739 shares of the company’s stock, valued at $3,416,085. This represents a 28.83% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,059,844 shares of company stock valued at $14,685,149. Insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of QUBT. Rhumbline Advisers purchased a new position in shares of Quantum Computing during the 1st quarter worth $28,000. Tower Research Capital LLC TRC purchased a new position in shares of Quantum Computing during the 4th quarter worth $30,000. Hollencrest Capital Management boosted its stake in shares of Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock worth $32,000 after acquiring an additional 1,500 shares during the last quarter. IFP Advisors Inc purchased a new position in shares of Quantum Computing during the 4th quarter worth $33,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Ascendiant Capital Markets raised their target price on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, June 6th. Wall Street Zen upgraded shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Quantum Computing Trading Up 3.0%

Shares of QUBT stock opened at $17.29 on Friday. Quantum Computing has a 12-month low of $0.35 and a 12-month high of $27.15. The firm’s 50 day moving average is $12.14 and its 200 day moving average is $10.47. The stock has a market capitalization of $2.44 billion, a P/E ratio of -36.02 and a beta of 3.85.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.18. The business had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $0.30 million.

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.