Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Update

Quantum Computing Inc. (NASDAQ:QUBT) has seen a notable decrease in short interest during the month of February. As of February 15th, short interest stood at 20,230,000 shares, showing a significant drop of 19.5% from the 25,140,000 shares reported on January 31st. Presently, 18.2% of the total shares are short-sold. Given an average trading volume of 44,130,000 shares, the current short-interest ratio amounts to 0.5 days.

Institutional Investors Review Quantum Computing

Several institutional investors and hedge funds have taken steps to adjust their positions in QUBT. For instance, XTX Topco Ltd made a new investment in Quantum Computing during the third quarter, valued at approximately $46,000. Geode Capital Management LLC increased its stake in the company by 10.5% during the same quarter, now holding 687,208 shares worth around $449,000 after acquiring an additional 65,486 shares in the last quarter. Additionally, Virtu Financial LLC escalated its position by an impressive 377.7% during the third quarter and now owns 60,557 shares valued at around $40,000 after previously purchasing 47,880 shares. Sovereign Financial Group Inc. also entered a new investment in Quantum Computing in the fourth quarter for about $209,000. Finally, Diversify Wealth Management LLC added a position worth approximately $331,000 in the same quarter. Overall, institutional investors hold 4.26% of the company's stock.

Quantum Computing Stock Overview

On Tuesday, shares of QUBT traded down by $0.17, reaching a price of $5.26. The trading volume was recorded at 11,145,261 shares, significantly lower than its average volume of 26,176,410 shares. The firm has a market capitalization of $721.55 million, a P/E ratio of -18.14, and a beta of 3.26. Currently, the company’s 50-day moving average is $10.83, while the 200-day moving average is $5.85. Quantum Computing has experienced a low of $0.35 and a peak of $27.15 over the past twelve months.

Analyst Ratings Update

In a separate note, Ascendiant Capital Markets raised its price target on Quantum Computing from $8.25 to $8.50, also assigning a 'buy' rating to the company in their research update.

Company Overview

Quantum Computing Inc. is recognized as a significant player within the integrated photonics sector, providing innovative and affordable quantum computing solutions. The company’s offerings include portable, low-power, room temperature quantum computers known as Dirac systems, which encompass qubit and qudit entropy quantum computers (EQC). In addition, they specialize in reservoir computing, remote sensing, and single-photon imaging technologies. Their Quantum random number generator (uQRNG) is a pivotal device that produces genuine random numbers derived from quantum phenomena, while their quantum authentication systems help mitigate vulnerabilities associated with traditional cryptographic methods by delivering a robust entanglement-based quantum cyber solution that blends seamlessly with existing telecommunications infrastructure.

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