Quantum Computing Inc. (NASDAQ:QUBT) Short Interest Down 26.6% in September

Quantum Computing Inc. (NASDAQ:QUBT) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 2,070,000 shares, a drop of 26.6% from the August 31st total of 2,820,000 shares. Based on an average daily volume of 738,000 shares, the days-to-cover ratio is currently 2.8 days. Approximately 3.1% of the shares of the company are short sold.

Quantum Computing Stock Performance

NASDAQ:QUBT remained flat at $0.67 during midday trading on Friday. 615,884 shares of the company were exchanged, compared to its average volume of 1,077,854. The stock has a market cap of $60.97 million, a PE ratio of -2.15 and a beta of 1.73. The business’s 50-day simple moving average is $0.65 and its two-hundred day simple moving average is $0.73. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $1.32.

Institutional Trading of Quantum Computing

Several hedge funds and other institutional investors have recently made changes to their positions in QUBT. PEAK6 Investments LLC acquired a new stake in Quantum Computing in the first quarter valued at $129,000. TRUE Private Wealth Advisors grew its position in Quantum Computing by 318.1% during the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after buying an additional 50,000 shares during the period. Independence Bank of Kentucky purchased a new position in Quantum Computing in the first quarter valued at about $25,000. Finally, Virtu Financial LLC increased its holdings in Quantum Computing by 17.7% in the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock valued at $94,000 after buying an additional 14,326 shares in the last quarter. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.