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

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 53,061 call options on the stock. This represents an increase of 24% compared to the typical daily volume of 42,731 call options.

Quantum Computing Price Performance

QUBT stock opened at $15.13 on Wednesday. The company has a 50 day moving average price of $9.12 and a 200 day moving average price of $9.49. Quantum Computing has a fifty-two week low of $0.35 and a fifty-two week high of $27.15. The stock has a market capitalization of $2.13 billion, a PE ratio of -52.17 and a beta of 3.85.

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

Insider Activity at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of Quantum Computing stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $8.48, for a total transaction of $1,696,000.00. Following the sale, the insider now directly owns 24,051,256 shares of the company’s stock, valued at approximately $203,954,650.88. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Javad Shabani sold 39,973 shares of Quantum Computing stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.66, for a total value 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 over the last three months. Company insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers bought a new position in Quantum Computing in the 1st quarter worth approximately $28,000. GK Wealth Management LLC acquired a new position in shares of Quantum Computing in the 1st quarter valued at $88,000. Intrua Financial LLC acquired a new position in shares of Quantum Computing in the 1st quarter valued at $385,000. Goldman Sachs Group Inc. lifted its stake in shares of Quantum Computing by 0.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 326,278 shares of the company’s stock valued at $2,610,000 after purchasing an additional 2,280 shares during the period. Finally, PharVision Advisers LLC acquired a new position in shares of Quantum Computing in the 1st quarter valued at $171,000. Institutional investors own 4.26% of the company’s stock.

Wall Street Analysts Forecast Growth

QUBT has been the topic of several recent analyst reports. Ascendiant Capital Markets boosted their target price on 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 raised Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Thursday, May 22nd.

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.