Quantum Computing Inc. (NASDAQ:QUBT) Sees Significant Drop in Short Interest

Quantum Computing Inc. (NASDAQ:QUBT) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 20,230,000 shares, a decrease of 19.5% from the January 31st total of 25,140,000 shares. Based on an average trading volume of 44,130,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 18.2% of the shares of the stock are sold short.

Institutional Investors Weigh In On Quantum Computing

A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new position in Quantum Computing in the 4th quarter worth $30,000. Archer Investment Corp purchased a new stake in Quantum Computing during the fourth quarter valued at about $33,000. IFP Advisors Inc bought a new position in shares of Quantum Computing during the fourth quarter valued at about $33,000. Farther Finance Advisors LLC purchased a new position in shares of Quantum Computing in the fourth quarter worth about $33,000. Finally, Virtu Financial LLC lifted its stake in shares of Quantum Computing by 377.7% in the 3rd 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.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lifted their price target 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 Stock Performance

NASDAQ:QUBT traded down $0.44 during mid-day trading on Thursday, reaching $4.85. The stock had a trading volume of 5,550,683 shares, compared to its average volume of 25,340,301. Quantum Computing has a one year low of $0.35 and a one year high of $27.15. The firm has a 50 day moving average price of $10.36 and a two-hundred day moving average price of $5.88. The stock has a market capitalization of $664.62 million, a P/E ratio of -16.71 and a beta of 3.26.

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.