Quantum Computing Inc. (NASDAQ:QUBT) Receives $23.67 Average PT from Analysts

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have been given a consensus recommendation of “Hold” by the five analysts that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $20.75.

A number of research firms recently issued reports on QUBT. Wall Street Zen raised shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $15.00 target price on shares of Quantum Computing in a report on Thursday. Lake Street Capital lowered their price target on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 17th. Ascendiant Capital Markets lifted their price target on Quantum Computing from $22.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday.

Quantum Computing Trading Up 5.3%

Shares of Quantum Computing stock opened at $10.89 on Wednesday. The firm has a market cap of $2.44 billion, a PE ratio of -17.85 and a beta of 3.80. The stock has a 50 day moving average of $13.52 and a 200 day moving average of $16.08. Quantum Computing has a 12 month low of $4.37 and a 12 month high of $25.84.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $0.12 million.

Institutional Trading of Quantum Computing

A number of institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC bought a new position in Quantum Computing during the second quarter valued at $28,000. Farther Finance Advisors LLC grew its holdings in 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 purchasing an additional 1,319 shares during the last quarter. Rhumbline Advisers bought a new position in Quantum Computing during the 1st quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Quantum Computing in the 2nd quarter worth about $29,000. Finally, FWL Investment Management LLC bought a new stake in Quantum Computing in the second quarter worth about $33,000. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Company Profile

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.