Investors Purchase High Volume of Call Options on Quantum Computing (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) saw unusually large options trading on Tuesday. Traders purchased 53,061 call options on the stock. This represents an increase of 24% compared to the average volume of 42,731 call options.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Thursday, May 22nd. Ascendiant Capital Markets boosted their price target on Quantum Computing from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday.

Quantum Computing Price Performance

Shares of QUBT traded up $1.98 during midday trading on Tuesday, reaching $16.32. The stock had a trading volume of 36,109,323 shares, compared to its average volume of 19,869,475. The firm’s 50 day moving average price is $8.97 and its 200-day moving average price is $9.45. Quantum Computing has a 52 week low of $0.35 and a 52 week high of $27.15. The company has a market capitalization of $2.30 billion, a P/E ratio of -56.28 and a beta of 3.85.

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

Insiders Place Their Bets

In other news, insider Yuping Huang sold 500,000 shares of the business’s stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $11.70, for a total value of $5,850,000.00. Following the completion of the sale, the insider now owns 21,236,906 shares of the company’s stock, valued at approximately $248,471,800.20. The trade was a 2.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Javad Shabani sold 39,973 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.66, for a total transaction of $466,085.18. The disclosure for this sale can be found here. Insiders have sold 739,973 shares of company stock worth $8,012,085 in the last three months. 19.30% of the stock is owned by insiders.

Institutional Trading of Quantum Computing

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers acquired a new position in Quantum Computing during the 1st quarter worth $28,000. Tower Research Capital LLC TRC bought a new stake in Quantum Computing during the 4th quarter valued at approximately $30,000. Hollencrest Capital Management boosted its stake in Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company’s stock valued at $32,000 after purchasing an additional 1,500 shares during the period. IFP Advisors Inc bought a new position in Quantum Computing in the 4th quarter worth approximately $33,000. Finally, Farther Finance Advisors LLC acquired a new position in shares of Quantum Computing during the fourth quarter worth approximately $33,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.