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

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

Quantum Computing Price Performance

Shares of QUBT traded down $0.33 during trading hours 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 12 month low of $0.35 and a 12 month high of $27.15. The firm has a market capitalization of $1.09 billion, a PE ratio of -27.41 and a beta of 2.75. The stock has a fifty day moving average price of $12.08 and a 200 day moving average price of $5.33.

Institutional Trading of Quantum Computing

Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of Quantum Computing in the fourth quarter valued at about $30,000. IFP Advisors Inc purchased a new stake in shares of Quantum Computing in the fourth quarter worth about $33,000. Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing in the fourth quarter worth about $33,000. Archer Investment Corp purchased a new stake in shares of Quantum Computing in the fourth quarter worth about $33,000. Finally, Hollencrest Capital Management purchased a new stake in shares of Quantum Computing in the fourth quarter worth about $41,000. Institutional investors own 4.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.