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

Quantum Computing Inc. (NASDAQ:QUBT) saw unusually large options trading on Thursday. Traders acquired 53,070 call options on the company. This is an increase of 43% compared to the typical volume of 37,205 call options.

Insider Buying and Selling at Quantum Computing

In other news, CFO Christopher Bruce Roberts sold 9,360 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $7.85, for a total transaction of $73,476.00. Following the completion of the sale, the chief financial officer directly owned 1,123,038 shares of the company’s stock, valued at $8,815,848.30. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 19.30% of the stock is owned by company insiders.

Institutional Trading of Quantum Computing

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp grew its holdings in Quantum Computing by 50.0% in the 4th quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock valued at $31,000 after buying an additional 1,000 shares during the last quarter. Signaturefd LLC grew its holdings in Quantum Computing by 36.5% in the 4th quarter. Signaturefd LLC now owns 3,742 shares of the company’s stock valued at $38,000 after buying an additional 1,000 shares during the last quarter. Two Sigma Investments LP grew its holdings in Quantum Computing by 2.5% in the 3rd quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock valued at $749,000 after buying an additional 1,001 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Quantum Computing by 9.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,515 shares of the company’s stock valued at $86,000 after buying an additional 1,057 shares during the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Quantum Computing by 43.5% in the 3rd quarter. NewEdge Advisors LLC now owns 5,030 shares of the company’s stock valued at $93,000 after buying an additional 1,525 shares during the last quarter. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Stock Performance

Shares of QUBT stock opened at $12.24 on Friday. The stock’s 50 day simple moving average is $8.91 and its 200 day simple moving average is $9.86. Quantum Computing has a twelve month low of $6.18 and a twelve month high of $25.84. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -43.71 and a beta of 3.70.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $3.69 million during the quarter, compared to the consensus estimate of $3.13 million. On average, analysts forecast that Quantum Computing will post -0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wall Street Zen raised Quantum Computing from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research note on Friday, March 27th. Rosenblatt Securities reissued a “buy” rating and issued a $22.00 price objective on shares of Quantum Computing in a research note on Tuesday, March 3rd. Cantor Fitzgerald cut their price objective on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Finally, Northland Securities assumed coverage on Quantum Computing in a research note on Monday, April 20th. They issued an “outperform” rating and a $20.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $17.50.

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.