Traders Purchase Large Volume of Call Options on Quantum Computing (NASDAQ:QUBT)

Quantum Computing Inc. (NASDAQ:QUBT) was the target of unusually large options trading on Tuesday. Investors purchased 117,670 call options on the stock. This represents an increase of approximately 297% compared to the average daily volume of 29,663 call options.

Quantum Computing Stock Performance

Shares of QUBT stock traded up $1.34 during mid-day trading on Tuesday, hitting $11.52. The company’s stock had a trading volume of 104,901,840 shares, compared to its average volume of 14,995,755. Quantum Computing has a 52-week low of $6.18 and a 52-week high of $25.84. The business has a 50-day moving average price of $8.02 and a 200 day moving average price of $10.20. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of -76.20 and a beta of 3.70.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $3.13 million. Equities research analysts predict that Quantum Computing will post -0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wall Street Zen downgraded Quantum Computing from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Northland Securities assumed coverage on Quantum Computing in a research note on Monday, April 20th. They issued an “outperform” rating and a $20.00 price objective for the company. Cantor Fitzgerald reduced their price objective on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Rosenblatt Securities restated a “buy” rating and issued a $22.00 price objective on shares of Quantum Computing in a research note on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research note on Friday, March 27th. Four equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $17.50.

Key Stories Impacting Quantum Computing

Here are the key news stories impacting Quantum Computing this week:

• Positive Sentiment: QUBT reported first-quarter results that beat both revenue and earnings expectations, with revenue surging year over year and losses narrower than expected, signaling improving execution. Quantum Computing Inc. (QUBT) Reports Q1 Loss, Tops Revenue Estimates
• Positive Sentiment: Management’s growth strategy is getting attention, including the $110 million acquisition of Luminar Semiconductor and $5 million purchase of NuCrypt, which expand QUBT’s photonics and quantum communications capabilities. Quantum Computing Inc. Stock (QUBT) Opinions on Q1 Earnings Release
• Positive Sentiment: Bullish trading activity is adding momentum, with unusually heavy call-option buying suggesting investors are positioning for further upside. Quantum Computing Inc. Stock (QUBT) Opinions on Q1 Earnings Release
• Neutral Sentiment: The stock has also been boosted by technical momentum after moving above its 200-day average, which can attract trend-following traders. QUBT Breaks Above Its 200-Day Moving Average — As CEO Bets on ‘Scalable’ Quantum
• Neutral Sentiment: Some institutional ownership has been mixed, with large funds both adding and trimming positions in recent quarters, which may reflect differing views on valuation and execution risk. Quantum Computing Inc. Stock (QUBT) Opinions on Q1 Earnings Release

Insider Transactions at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 9,360 shares of the company’s stock in a transaction 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 owned 1,123,038 shares in the company, valued at approximately $8,815,848.30. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Quantum Computing

Several hedge funds and other institutional investors have recently modified their holdings of QUBT. Aventura Private Wealth LLC purchased a new position in Quantum Computing in the 4th quarter worth $26,000. International Assets Investment Management LLC purchased a new position in shares of Quantum Computing during the 4th quarter valued at about $26,000. Farther Finance Advisors LLC raised its stake in shares of Quantum Computing by 724.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock valued at $28,000 after buying an additional 1,319 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of Quantum Computing during the 1st quarter valued at about $28,000. Finally, Tucker Asset Management LLC purchased a new position in shares of Quantum Computing during the 4th quarter valued at about $29,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

About Quantum Computing

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.