Quantum Computing (NASDAQ:QUBT) Stock Rating Lowered by Wall Street Zen

Quantum Computing (NASDAQ:QUBT) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts also recently weighed in on QUBT. Cantor Fitzgerald dropped their price objective on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Wedbush started coverage on shares of Quantum Computing in a research report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Quantum Computing in a research report on Tuesday, March 3rd. Finally, Lake Street Capital reduced their price objective on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $17.00.

Quantum Computing Stock Down 1.6%

Quantum Computing stock opened at $7.60 on Friday. The firm has a market cap of $1.71 billion, a P/E ratio of -50.67 and a beta of 3.51. The business has a fifty day moving average of $9.95 and a two-hundred day moving average of $13.36. Quantum Computing has a twelve month low of $4.37 and a twelve month high of $25.84.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.39 million.

Insider Buying and Selling

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total value of $33,891.00. Following the completion of the sale, the chief operating officer directly owned 24,240 shares in the company, valued at approximately $287,244. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Quantum Computing

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC boosted its stake in Quantum Computing by 724.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock worth $28,000 after purchasing an additional 1,319 shares in the last quarter. FWL Investment Management LLC acquired a new position in Quantum Computing during the 2nd quarter valued at approximately $33,000. New Millennium Group LLC purchased a new position in shares of Quantum Computing in the third quarter worth $36,000. Toth Financial Advisory Corp lifted its stake in shares of Quantum Computing by 100.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Quantum Computing during the third quarter worth $39,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

About Quantum Computing

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.