Quantum Computing Inc. (NASDAQ:QUBT) Receives Average Rating of “Hold” from Analysts

Quantum Computing Inc. (NASDAQ:QUBT) has been given a consensus recommendation of “Hold” by the five research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $17.00.

Several brokerages have issued reports on QUBT. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, December 29th. Wedbush began coverage on shares of Quantum Computing in a research report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 target price for the company. Ascendiant Capital Markets decreased their price target on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Cantor Fitzgerald reiterated a “neutral” rating and set a $15.00 price target on shares of Quantum Computing in a research note on Thursday, December 18th. Finally, Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 22nd.

Quantum Computing Trading Down 1.8%

NASDAQ:QUBT opened at $11.72 on Friday. The company has a market cap of $2.63 billion, a PE ratio of -19.21 and a beta of 3.49. The company has a 50 day simple moving average of $11.73 and a two-hundred day simple moving average of $15.51. Quantum Computing has a 12 month low of $4.37 and a 12 month high of $25.84.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Concurrent Investment Advisors LLC purchased a new position in Quantum Computing during the second quarter valued at approximately $1,003,000. PFG Investments LLC bought a new stake in shares of Quantum Computing during the 2nd quarter valued at $1,128,000. Rollins Financial Advisors LLC purchased a new position in shares of Quantum Computing during the 2nd quarter valued at $504,000. SLT Holdings LLC boosted its holdings in Quantum Computing by 111.5% in the 2nd quarter. SLT Holdings LLC now owns 69,250 shares of the company’s stock worth $1,328,000 after buying an additional 36,500 shares during the period. Finally, Pacific Heights Asset Management LLC purchased a new stake in Quantum Computing in the 2nd quarter worth $7,668,000. Institutional investors own 4.26% of the company’s stock.

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.