Positioning no disclosures inside 60 days, left as found
Options put/call open interest 4.02, read 2026-11-02
Ethical does not pass the values gate
Price6.43 USD
Fair valueUnder review
Ethical score70.0/100
Our investment reviews on this name
2026-10-11Read Markdown8.18-21.4% to today ✓Accumulation gives way to Markdown after a 6% slide in 9 days
2026-10-02Read Accumulation8.70-26.1% to today Markdown gives way to Accumulation
2026-09-10Read Markdown8.35-23.0% to today ✓Distribution gives way to Markdown after a 9% slide in 5 weeks
2026-08-09Read Distribution9.18-30.0% to today ✓Markup gives way to Distribution after an 8% slide in 5 weeks
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Quantum Computing Inc. holds its Markdown at $6.43. The statistical read favours the sellers, held for 57 days.
As held on the ledger · 2026-11-03
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 57 days
Price at the screen
$6.43
Valuation
N/A trailing · -28.82 forward price to earnings
Values screen
FAIL· score 70.0
Beta
3.75
The Workings
Five Screens, Shown in Full
Does not pass. Revenue purity
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
0.11%
Below 33%
Interest-bearing debt is just 0.1% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
23.44%
Below 33%
Cash held in interest-bearing accounts and securities is 23.4% of assets, under the one-third limit.
Pass
Receivables
45.61%
Below 49%
Money owed to the company is 45.6% of assets, under the 49% limit.
Pass
Revenue purity
100.00%
Below 5%
100.0% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Quantum Computing clears the business-activity screen, and its debt is near-nil. Where it falls short is income purity: around 100% of its income right now is interest earned on a large cash position, against a roughly 5% ceiling, so it does not pass. That reflects what it earns today, not the business itself, and it could clear the screen if its operating revenue grows and the interest share falls.
Read as at 2026-11-04. It updates when the underlying figures move, and past reads are kept below.
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What the Numbers Say It Is Worth
The Fair Value Range
Fair value under review. Our model's value is 2.84x the price, above our 2.00x limit. We show no fair value, margin of safety or value read built on it until the review clears.
Where our models see it going: no fair-value estimate yet, range not available, dated to the 2026-11-03 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Quantum dreams meet zero profits today
Picture a startup selling tickets to a rocket that has not left the hangar. Quantum Computing Inc. reports revenue exploding over nine thousand per cent yet posts zero profit margins and a negative return on equity. Analysts see an eighteen dollar target from the current price near eight dollars but the business still burns cash with no proven moat.
We pass because the numbers show a company that has yet to turn explosive top line growth into anything resembling sustainable earnings. Forward earnings sit in negative territory and the opportunity rating stays at none despite the ethical screen clearing. Hype around photonics chips does not change the fact that real cash generation remains missing.
Execution risk sits high here as the firm must prove it can scale beyond tiny revenue while fending off better funded rivals. A double in the share price on paper means little if losses persist. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
QUBT trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-03Markdown$6.60+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-02Markdown$6.60+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18. It reported earnings in this window, a natural checkpoint for the thesis.
2026-11-01Markdown$6.60-3.2%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 3.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18.
2026-10-25Markdown$6.82+8.1%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 8.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18.
2026-10-18Markdown$6.31-22.9%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 22.9% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18.
2026-10-11Markdown · changed$8.18-6.0%Entry 7
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18.
2026-10-02Accumulation · changed$8.70+4.2%Entry 6
The framework has shifted from markdown to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 4.2% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18.
2026-09-10Markdown · changed$8.35-9.0%Entry 5
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 9.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18.
2026-08-09Distribution · changed$9.18-7.6%Entry 4
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 7.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18.
2026-07-18Markup$9.93+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading bullish. Over the past year the shares are down 37%. Our forward projection puts the odds of a 10% gain over the next month near 45%. The street (6 analysts) rates it none, with a mean price target of $18.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
