Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Up 29.8% in January

Quantum Computing Inc. (NASDAQ:QUBT) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 25,140,000 shares, an increase of 29.8% from the January 15th total of 19,370,000 shares. Currently, 23.0% of the shares of the stock are sold short. Based on an average daily volume of 49,110,000 shares, the days-to-cover ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets boosted their price objective on Quantum Computing from $8.25 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

Quantum Computing Trading Down 4.0 %

Shares of QUBT traded down $0.33 during trading hours on Friday, hitting $7.95. 12,497,404 shares of the stock traded hands, compared to its average volume of 32,462,944. Quantum Computing has a 1-year low of $0.35 and a 1-year high of $27.15. The business has a fifty day moving average of $12.08 and a 200-day moving average of $5.33.

Hedge Funds Weigh In On Quantum Computing

Several large investors have recently made changes to their positions in the company. XTX Topco Ltd acquired a new position in Quantum Computing in the third quarter valued at about $46,000. Geode Capital Management LLC lifted its stake 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 buying an additional 65,486 shares during the period. Virtu Financial LLC lifted its stake 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 buying an additional 47,880 shares during the period. Sovereign Financial Group Inc. acquired a new position in Quantum Computing in the fourth quarter valued at about $209,000. Finally, Diversify Wealth Management LLC acquired a new position in Quantum Computing in the fourth quarter valued at about $331,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

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.