Quantum Computing (NASDAQ:QUBT) Trading Up 11.5% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT)’s share price was up 11.5% during mid-day trading on Friday . The company traded as high as $8.49 and last traded at $8.7050. Approximately 2,095,039 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 16,781,521 shares. The stock had previously closed at $7.81.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on QUBT. Wall Street Zen downgraded shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday. Ascendiant Capital Markets dropped their price objective on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Cantor Fitzgerald reissued a “neutral” rating and set a $15.00 target price on shares of Quantum Computing in a research note on Thursday, December 18th. Wedbush started coverage on Quantum Computing in a report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Lake Street Capital cut their price target on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Quantum Computing presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Quantum Computing Price Performance

The stock’s 50 day moving average is $11.32 and its two-hundred day moving average is $14.43. The stock has a market capitalization of $2.11 billion, a PE ratio of -15.46 and a beta of 3.44.

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

Insider Buying and Selling

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total value of $33,891.00. Following the sale, the chief operating officer directly owned 24,240 shares in the company, valued at $287,244. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QUBT. J.W. Cole Advisors Inc. boosted its holdings in shares of Quantum Computing by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company’s stock valued at $404,000 after buying an additional 770 shares in the last quarter. Toth Financial Advisory Corp lifted its position in Quantum Computing by 100.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock valued at $37,000 after acquiring an additional 1,000 shares during the last quarter. Signaturefd LLC lifted its position in Quantum Computing by 36.5% in the fourth quarter. Signaturefd LLC now owns 3,742 shares of the company’s stock valued at $38,000 after acquiring an additional 1,000 shares during the last quarter. Two Sigma Investments LP boosted its stake in Quantum Computing by 2.5% in the third quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock valued at $749,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC grew its holdings in shares of Quantum Computing by 9.3% during the third quarter. Gladstone Institutional Advisory LLC now owns 12,975 shares of the company’s stock worth $239,000 after purchasing an additional 1,100 shares during the last quarter. Hedge funds and other 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.