Quantum Computing (NASDAQ:QUBT) Stock Price Down 7.5% – Here’s Why

Quantum Computing Inc. (NASDAQ:QUBT) shares fell 7.5% during trading on Wednesday . The stock traded as low as $9.61 and last traded at $9.70. 18,371,181 shares traded hands during mid-day trading, an increase of 5% from the average daily volume of 17,482,783 shares. The stock had previously closed at $10.49.

Quantum Computing News Summary

Here are the key news stories impacting Quantum Computing this week:

• Positive Sentiment: Quantum Computing Inc. completed its acquisition of NHanced Semiconductors, boosting manufacturing capacity and supporting its commercialization roadmap. Quantum Computing Inc. Completes Acquisition of NHanced Semiconductors, Inc.
• Positive Sentiment: Rosenblatt reaffirmed its Buy rating on QUBT and set a $22 price target, implying meaningful upside from recent trading levels. Benzinga report on Rosenblatt rating
• Positive Sentiment: NeuraWave landed a Planck Dynamics deal, underscoring demand for QCi’s photonic AI systems and opening the door to a potential program above $10 million. What Makes NeuraWave Suited for Quantum Computing’s Growth Strategy?
• Neutral Sentiment: Sector headlines show investors becoming more selective in quantum computing stocks, which may be creating volatility in QUBT shares. Why Investors Are Finally Separating Quantum Computing Winners From Losers
• Negative Sentiment: Recent coverage notes insider selling and mixed fund positioning, which can temper investor enthusiasm despite the company’s strategic progress. Quiver Quantitative QUBT acquisition discussion

Analysts Set New Price Targets

A number of equities research analysts have issued reports on QUBT shares. Wall Street Zen cut shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Friday, March 27th. Rosenblatt Securities restated a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a research note on Wednesday. Northland Securities began coverage on Quantum Computing in a report on Monday, April 20th. They issued an “outperform” rating and a $20.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Quantum Computing in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $18.33.

Quantum Computing Trading Down 7.5%

The stock has a market capitalization of $2.19 billion, a P/E ratio of -34.64 and a beta of 3.72. The business’s fifty day simple moving average is $10.24 and its two-hundred day simple moving average is $9.78.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $3.69 million for the quarter, compared to analyst estimates of $3.13 million. On average, equities research analysts anticipate that Quantum Computing Inc. will post -0.14 earnings per share for the current year.

Institutional Trading of Quantum Computing

A number of hedge funds have recently modified their holdings of QUBT. FWL Investment Management LLC acquired a new stake in shares of Quantum Computing during the 2nd quarter worth approximately $33,000. Triumph Capital Management bought a new position in Quantum Computing in the third quarter worth $45,000. Aventura Private Wealth LLC bought a new position in Quantum Computing in the fourth quarter worth $26,000. International Assets Investment Management LLC acquired a new stake in Quantum Computing during the fourth quarter worth $26,000. Finally, Tucker Asset Management LLC acquired a new stake in Quantum Computing during the fourth quarter worth $29,000. 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.