Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Up 29.8% in January

Quantum Computing Inc. (NASDAQ:QUBT) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 25,140,000 shares, an increase of 29.8% from the January 15th total of 19,370,000 shares. Based on an average daily volume of 49,110,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 23.0% of the shares of the company are sold short.

Quantum Computing Stock Performance

QUBT stock traded down $0.33 during mid-day trading on Friday, hitting $7.95. The stock had a trading volume of 12,497,404 shares, compared to its average volume of 32,462,944. Quantum Computing has a 1-year low of $0.35 and a 1-year high of $27.15. The company has a fifty day moving average of $12.08 and a 200 day moving average of $5.33.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently added to or reduced their stakes in QUBT. XTX Topco Ltd acquired a new stake in Quantum Computing in the 3rd quarter worth approximately $46,000. Geode Capital Management LLC lifted its holdings in Quantum Computing by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares during the last quarter. Virtu Financial LLC lifted its holdings in Quantum Computing by 377.7% in the 3rd quarter. Virtu Financial LLC now owns 60,557 shares of the company’s stock worth $40,000 after purchasing an additional 47,880 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in Quantum Computing in the 4th quarter worth approximately $209,000. Finally, Diversify Wealth Management LLC bought a new position in Quantum Computing in the 4th quarter worth approximately $331,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Ascendiant Capital Markets increased their price objective 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 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.