Quantum Computing Inc. (NASDAQ: QUBT) extends a sharp multi‑day rally on November 19, 2025, as it showcases its Neurawave photonic reservoir computer at SuperCompute25, fresh Q3 2025 earnings, and a huge $1.5+ billion cash position draw both hype and skepticism from Wall Street.
As of this afternoon, Quantum Computing Inc. (QCi, NASDAQ: QUBT) is still in the market’s spotlight. The high‑beta quantum and AI hardware stock is trading around $12.48, up roughly 1.1% on the day, extending a powerful three‑day run driven by new product news, a surprise profit in Q3 2025 and a massive capital raise that’s left the company with more than $1.5 billion in liquidity. [1]
Key takeaways for QUBT on November 19, 2025
- Stock still climbing: QUBT trades near $12.48, up about 1% today and building on double‑digit gains earlier this week. Over the past year, shares have surged more than 250%–400%, depending on the reference period. [2]
- Neurawave in the spotlight: QCi is showcasing Neurawave, a photonics‑based reservoir computing card, and its Dirac‑3 quantum computer at the SuperCompute25 conference in St. Louis, targeting edge‑AI workloads with room‑temperature, PCIe‑compatible hardware. [3]
- Q3 2025 surprise profit and giant war chest: Q3 revenue jumped 280% year over year to $384,000, and the company reported $2.4 million in net income, helped by a derivative revaluation and interest income. After $500 million and $750 million private placements, QCi reports over $1.5 billion in cash and investments. [4]
- Valuation alarm bells: Zacks highlights a forward price‑to‑sales ratio near 1,880x, far above industry norms, and keeps QUBT at a Hold rating, while other analysts’ targets cluster around $15–$40 per share. [5]
- Mixed sentiment despite hype: Social‑media and retail enthusiasm is strong, but insider selling has been heavy, institutional ownership remains modest, and commentary from The Motley Fool and MarketBeat frames QUBT as a high‑risk, speculative bet rather than a mainstream core holding. [6]
QUBT stock today: extending a three‑day quantum rally
QUBT’s current move is the latest leg in a very volatile week:
- Monday, Nov. 17: Shares jumped 13.3% intraday to about $12.01, after a Tokenist / Investing.com analysis highlighted the Q3 beat, the Neurawave announcement and the company’s roughly $1.5 billion cash position. [7]
- Tuesday, Nov. 18: The rally continued, with QUBT closing up 7.3% at $12.34, according to coverage syndicated by TipRanks and The Motley Fool. [8]
- Today, Wednesday, Nov. 19: The stock is modestly higher again, around $12.48, with intraday trading between $12.34 and $12.74 and volume near 9.7 million shares in early afternoon trading.
Despite the surge, QUBT is still far below its 52‑week high of $27.15 but dramatically above its 12‑month low near $2.22, underscoring just how speculative quantum‑computing stocks have been this year. [9]
A broader AI‑tech wobble ahead of Nvidia’s earnings is adding to the volatility: a detailed MarketMinute piece today lists Quantum Computing Inc. alongside other high‑beta AI names that tend to swing sharply on shifts in sentiment around Nvidia and the AI spending cycle. [10]
Today’s big QUBT headlines: what the media is saying
Several major outlets are covering Quantum Computing Inc. on November 19, 2025. Here’s what they’re focusing on:
1. Zacks / TradingView – “How QUBT Grows Its Presence in the Emerging Reservoir Computing Niche”
A Zacks analysis, republished via TradingView, frames QCi as a niche reservoir‑computing play with no direct public peers, but points out just how stretched the valuation has become. Key points: [11]
- Reservoir computing focus: Neurawave is described as a photonics‑based reservoir computer built on a standard PCIe card that combines optical computing with digital electronics, running fully at room temperature.
- Use cases: It targets edge‑AI tasks like signal processing, time‑series forecasting and pattern recognition, where fast response and low power in compact systems matter.
- Commercial traction: Zacks notes that QCi sold an EmuCore reservoir computer to a major automotive manufacturer earlier this year, a sign that real customers are testing the company’s hardware.
- Share‑price performance: Over the last year, QUBT shares are said to be up roughly 400%+, crushing both the broader quantum‑computing sector and the S&P 500.
- Valuation & rating: Zacks puts QUBT’s forward price‑to‑sales near 1,880x, compared with about 5.6x for its industry group, and assigns a Zacks Rank #3 (Hold) — effectively a “watch, don’t chase aggressively” stance.
2. TipRanks – “QCi (QUBT) Stock Rises in Interest After New Light‑Based AI Unit Debut”
A TipRanks article digs into the Neurawave launch and how it fits into QCi’s broader roadmap. [12]
Highlights include:
- Light‑based AI: Neurawave is described as a light‑powered system designed to process fast data streams (audio, sensor signals, time‑series) while using less power than conventional chips.
- Plug‑and‑play form factor: Because it fits into a standard PCIe slot and works at room temperature, it can slot into existing servers without exotic cooling or major infrastructure changes.
- Dirac‑3 in the cloud: QCi also plans to showcase its Dirac‑3 quantum computer at SuperCompute25 via cloud access, illustrating a strategy that pairs near‑term photonic accelerators with longer‑horizon full quantum systems.
- Q3 numbers recap: The piece reiterates that QCi reported $384,000 in Q3 revenue (up about 280% year over year) and $2.4 million in net income, while ending up with more than $1.5 billion in cash and investments after recent financings. [13]
3. Quantumzeitgeist – “QCi to Unveil Neurawave Photonics Computer at SuperCompute25”
Quantumzeitgeist, a specialist quantum‑tech site, published a detailed explainer today focused on Neurawave’s technical positioning. [14]
Key takeaways:
- Neurawave is framed as the next step in QCi’s technology roadmap, moving from lab prototypes to industry‑ready, PCIe‑based photonic hardware.
- The article emphasizes room‑temperature operation, compact design and energy efficiency as major advantages over many traditional cryogenic quantum systems.
- It highlights edge AI, industrial automation, and remote sensing as initial target markets, where low power and real‑time response are critical.
- QCi’s booth at SuperCompute25 (Booth #4344) will feature both Neurawave hardware and cloud demos of Dirac‑3, underscoring the company’s dual track of photonic accelerators plus full quantum computing. [15]
4. The Motley Fool – “Is Quantum Computing Inc. Stock a Buy Now?”
A fresh article from The Motley Fool — widely syndicated today via Yahoo and other portals — asks whether QUBT is a buy at current levels. [16]
From the snippets and the author’s earlier October deep‑dive on the same ticker, the story:
- Reiterates that QCi relies on photonic quantum technology, using photons rather than electrons or superconducting circuits to power its machines, enabling long‑distance quantum communication and room‑temperature operation. [17]
- Notes that QCi has now raised about $1.64 billion since November 2024, largely via equity offerings, leaving it with what management calls one of the strongest balance sheets in the quantum‑computing space. [18]
- Flags the mismatch between tiny current revenue and the company’s large market capitalization and cash balance, arguing that investors are paying up heavily for future potential.
The article stops short of a simple “buy” or “sell,” instead framing QUBT as a high‑risk play for investors who believe QCi’s photonic tech and war chest can be turned into a sustainable business over several years.
What exactly is Neurawave — and why does it matter?
At the center of this week’s excitement is Neurawave, QCi’s new photonics‑based reservoir computer.
Reservoir computing in plain English
Reservoir computing is a “quantum‑inspired” AI technique that uses a fixed, complex physical system (the “reservoir”) to transform input signals, after which only a simple readout layer needs to be trained. It’s particularly well‑suited to time‑dependent data — think audio, sensor streams, network traffic or financial time‑series. [19]
QCi’s twist is to implement that reservoir using non‑linear photonics:
- Light instead of electrons: By modulating and detecting light, Neurawave exploits the natural dynamics of photonic circuits to perform rapid, parallel transformations of incoming signals. [20]
- Standard PCIe card: The system is packaged as a PCIe board, making it look and behave much like a GPU or accelerator card from the perspective of a server. [21]
- Room‑temperature operation: Unlike many quantum computers that require near‑absolute‑zero cooling, Neurawave runs at room temperature, greatly simplifying deployment and reducing operating costs. [22]
The pitch: edge‑AI acceleration for workloads where latency and power budgets matter more than raw model size — industrial equipment monitoring, telecom signal processing, autonomous systems and other embedded applications. [23]
Neurawave also sits alongside QCi’s existing products, such as EmuCore (an FPGA‑based reservoir computer), Dirac‑3 (a qudit‑based quantum computer) and a quantum‑secure networking portfolio, suggesting a broader strategy to offer both quantum and photonic hardware under one roof. [24]
Q3 2025 results: tiny revenue, surprise profit
QCi’s Q3 2025 earnings, released on November 14, are the other major driver of recent trading activity. [25]
Headline numbers:
- Revenue:
- Q3 2025 revenue came in at $384,000, up from $101,000 a year earlier — a 280% year‑over‑year increase.
- Gross margin:
- Gross profit was about $126,000, a margin of roughly 33%, though management cautions that margins can swing widely at such low revenue levels.
- Operating expenses:
- Operating expenses rose to about $10.5 million from $5.4 million in the prior‑year quarter, reflecting heavy R&D, engineering and manufacturing investment.
- Net income:
- QCi reported net income of $2.4 million, or $0.01 per share, versus a $5.7 million loss (-$0.06 per share) a year before. The move into the black was driven mainly by a $9.2 million mark‑to‑market gain on derivative liabilities and $3.5 million in interest income on its growing cash pile, not by operating profitability. [26]
On the balance sheet, the Q3 report shows:
- $352 million in cash and $460.6 million in investments as of Sept. 30, 2025.
- Total assets of about $898 million and shareholders’ equity of $877.9 million.
- $500 million raised during the quarter via a private placement of common stock, followed by another $750 million private placement after quarter‑end, bringing total capital raised since November 2024 to roughly $1.64 billion. [27]
Management says this war chest should fund its current business plan through 2028, including building out a thin‑film lithium niobate (TFLN) photonic chip foundry, scaling production and pursuing acquisitions. [28]
Capital raises, dilution and valuation risks
The flip side of that balance‑sheet strength is dilution and valuation risk.
- The $750 million October private placement alone involved issuing about 37.2 million new shares, led by existing large shareholders. [29]
- An earlier $500 million private placement and other raises have similarly increased the share count, prompting at least one GuruFocus article last month to highlight a 13%+ one‑day drop on news of another large financing. [30]
- Zacks estimates QUBT trades at a forward 12‑month price‑to‑sales ratio near 1,880x, far above the roughly 5.6x industry average — a level that leaves very little room for execution missteps. [31]
Meanwhile, a QuiverQuant sentiment summary notes that social‑media reactions to Q3 were split: many traders praised the move to positive net income and strong liquidity, while others worried about whether QCi can ramp real product revenue fast enough to justify such a rich valuation. [32]
Who’s buying and selling QUBT? Institutions and insiders
The ownership picture around QUBT is complicated.
Institutions
- MarketBeat reports that Foundations Investment Advisors LLC more than doubled its QUBT stake in Q2, to nearly 70,000 shares worth about $1.34 million.
- Other small institutions have added or trimmed positions, but overall institutional ownership remains low, around 4.3% of the float. [33]
- QuiverQuant’s hedge‑fund data shows some major players — including Alyeska Investment Group, Citadel and BlackRock — adding millions of shares in Q3, while firms like Jane Street exited large positions entirely, underscoring the trading‑oriented nature of much of the interest. [34]
Insiders
QuiverQuant and MarketBeat both point out that insider selling has been significant: [35]
- CEO Yuping Huang has sold about 1 million shares in recent months for proceeds over $14 million, though he still holds a substantial stake.
- Several other executives and directors have also sold shares, with total insider sales in the last 90 days around 1.15 million shares, worth roughly $16–17 million.
Insiders still own close to 19% of the company, but the steady selling sends a mixed signal to investors trying to gauge long‑term conviction. [36]
Analyst views: cautiously optimistic, but not unanimous
Across research desks, sentiment on QUBT is far from unanimous:
- Zacks: Rates the stock a Hold (Rank #3), citing strong momentum in reservoir computing but a valuation that “prices in a lot of future success.” [37]
- QuiverQuant consensus: Aggregated data show three recent price targets — $15, $24, and $40 — with a median around $24, implying upside from current levels but also a wide spread in analyst expectations. [38]
- MarketBeat: Describes the stock’s analyst consensus as “Hold”, with an average target of about $23.67, while also highlighting a “sell” rating from one research outlet and multiple “buy” calls from others. [39]
The overall message: Wall Street sees real technological promise, but also recognizes that QCi is still early in commercial adoption, and measuring fair value is extremely challenging.
What this all means for investors looking at QUBT today
Putting today’s news flow together, Quantum Computing Inc. on November 19 looks like:
- A company with cutting‑edge photonic technology and a credible plan to address edge AI, quantum computing and cybersecurity markets. [40]
- Backed by an exceptionally large cash balance for a company of its size, theoretically enough to fund operations and expansion for several years. [41]
- Still generating less than half a million dollars per quarter in revenue, with profitability driven by financial gains rather than core operations so far. [42]
- Trading at extreme valuation multiples, with heavy volatility, a relatively speculative shareholder base, and significant recent insider selling. [43]
For traders, QUBT is likely to remain highly sensitive to:
- Any new Neurawave design wins or commercial contracts.
- Progress on the company’s photonic chip foundry and manufacturing roadmap. [44]
- Broader sentiment toward AI hardware and quantum computing, especially around Nvidia’s results and macro risk appetite. [45]
For long‑term investors, the key questions are whether QCi can convert its war chest and technology into sustainable, growing revenue before investor patience (and the market cycle) runs out, and whether the current share price adequately compensates for that execution risk. Nothing in today’s coverage changes the basic fact that QUBT remains a high‑risk, high‑volatility stock, best approached with position sizing and risk management in mind.
(This article is for informational purposes only and is not financial advice. Always do your own research or consult a licensed financial advisor before making investment decisions.)
Quick FAQ: QUBT on November 19, 2025
What is driving QUBT’s stock move this week?
A mix of catalysts: Q3 2025 earnings that showed faster revenue growth and a swing to positive net income (driven by non‑operating items), the launch of Neurawave and its debut at SuperCompute25, and continued attention on QCi’s $1.5+ billion cash position after large equity raises. [46]
What is Neurawave in simple terms?
Neurawave is a room‑temperature photonic accelerator card for AI and signal‑processing workloads. It uses light in a “reservoir computing” architecture and plugs into a standard PCIe slot, aiming to offer fast, low‑power processing for edge and industrial applications. [47]
Is QUBT profitable?
QCi reported net income of $2.4 million in Q3 2025, but that profit was largely driven by a non‑cash gain on derivatives and interest income on its large cash and investment balances. The underlying operating business is still very small and not yet sustainably profitable. [48]
References
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