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

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of some unusual options trading activity on Tuesday. Stock investors purchased 62,612 call options on the company. This represents an increase of approximately 129% compared to the average daily volume of 27,382 call options.

Quantum Computing Stock Performance

Shares of QUBT opened at $8.11 on Wednesday. Quantum Computing has a twelve month low of $5.76 and a twelve month high of $25.84. The firm’s 50 day moving average price is $7.72 and its two-hundred day moving average price is $11.48. The firm has a market cap of $1.82 billion, a P/E ratio of -54.07 and a beta of 3.67.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.39 million.

Insider Transactions at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 68,902 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.85, for a total transaction of $540,880.70. Following the completion of the transaction, the chief financial officer owned 1,132,398 shares in the company, valued at approximately $8,889,324.30. The trade was a 5.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Toth Financial Advisory Corp lifted its stake in Quantum Computing by 100.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock valued at $37,000 after buying an additional 1,000 shares in the last quarter. Signaturefd LLC lifted its position in shares of Quantum Computing by 36.5% in the fourth quarter. Signaturefd LLC now owns 3,742 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of Quantum Computing by 2.5% in the third quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock worth $749,000 after purchasing an additional 1,001 shares in the last quarter. Gladstone Institutional Advisory LLC lifted its position in shares of Quantum Computing by 9.3% in the third quarter. Gladstone Institutional Advisory LLC now owns 12,975 shares of the company’s stock worth $239,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in shares of Quantum Computing by 12.5% in the third quarter. Global Retirement Partners LLC now owns 10,055 shares of the company’s stock worth $185,000 after purchasing an additional 1,115 shares in the last quarter. Institutional investors own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Ascendiant Capital Markets decreased their price objective on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Cantor Fitzgerald decreased their price objective on shares of Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Rosenblatt Securities restated a “buy” rating and set a $22.00 price objective on shares of Quantum Computing in a report on Tuesday, March 3rd. Finally, Wall Street Zen cut shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Quantum Computing Company Profile

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.