Short Interest in Quantum Computing Inc. (NASDAQ:QUBT) Declines By 19.5%

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

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Quantum Computing

A number of large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new position in Quantum Computing in the 4th quarter valued at $30,000. Archer Investment Corp purchased a new position in shares of Quantum Computing during the fourth quarter worth about $33,000. IFP Advisors Inc bought a new position in shares of Quantum Computing in the fourth quarter worth approximately $33,000. Farther Finance Advisors LLC purchased a new stake in Quantum Computing in the fourth quarter valued at approximately $33,000. Finally, Virtu Financial LLC raised 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 purchasing an additional 47,880 shares in the last quarter. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Stock Performance

NASDAQ QUBT traded down $0.44 during trading hours on Thursday, hitting $4.85. The company had a trading volume of 5,550,683 shares, compared to its average volume of 25,340,301. The firm has a 50 day simple moving average of $10.36 and a 200 day simple moving average of $5.88. Quantum Computing has a 52 week low of $0.35 and a 52 week high of $27.15. The firm has a market capitalization of $664.62 million, a price-to-earnings ratio of -16.71 and a beta of 3.26.

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.