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

Quantum Computing Inc. (NASDAQ:QUBT) saw some unusual options trading on Thursday. Stock investors bought 53,070 call options on the company. This is an increase of 43% compared to the typical volume of 37,205 call options.

Insider Activity at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 9,360 shares of the stock in a transaction that occurred on 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 approximately $8,815,848.30. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Quantum Computing

Several hedge funds have recently made changes to their positions in QUBT. Alyeska Investment Group L.P. purchased a new position in shares of Quantum Computing in the third quarter valued at $123,014,000. Marex Group plc grew its position in shares of Quantum Computing by 255.6% in the fourth quarter. Marex Group plc now owns 8,272,153 shares of the company’s stock valued at $84,872,000 after purchasing an additional 5,945,679 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Quantum Computing by 38.1% in the fourth quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company’s stock valued at $172,793,000 after purchasing an additional 4,643,818 shares in the last quarter. Ghisallo Capital Management LLC purchased a new position in shares of Quantum Computing in the third quarter valued at $74,194,000. Finally, Defiance ETFs LLC purchased a new position in shares of Quantum Computing in the fourth quarter valued at $33,071,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

QUBT has been the subject of a number of research analyst reports. Wall Street Zen raised Quantum Computing from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Cantor Fitzgerald decreased their target price on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Northland Securities began coverage on Quantum Computing in a research report on Monday, April 20th. They issued an “outperform” rating and a $20.00 target price for the company. Rosenblatt Securities reissued a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Quantum Computing presently has an average rating of “Hold” and a consensus price target of $17.50.

Quantum Computing Stock Performance

NASDAQ:QUBT traded up $0.46 during trading hours on Thursday, reaching $11.88. The stock had a trading volume of 20,527,166 shares, compared to its average volume of 17,087,467. The stock has a 50 day simple moving average of $8.81 and a 200 day simple moving average of $9.87. Quantum Computing has a 12-month low of $6.18 and a 12-month high of $25.84. The stock has a market cap of $2.68 billion, a P/E ratio of -42.36 and a beta of 3.70.

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

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.