Quantum Computing Inc. (NASDAQ:QUBT) Given Consensus Rating of “Hold” by Analysts

Quantum Computing Inc. (NASDAQ:QUBT) has been assigned an average rating of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.3333.

QUBT has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a report on Wednesday, June 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a research report on Monday, June 29th. Lake Street Capital reaffirmed a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Cantor Fitzgerald reiterated a “neutral” rating and set a $10.00 price target on shares of Quantum Computing in a research report on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of Quantum Computing from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th.

Institutional Investors Weigh In On Quantum Computing

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in Quantum Computing during the fourth quarter valued at $26,000. Rhumbline Advisers purchased a new position in Quantum Computing during the 1st quarter valued at about $28,000. Tucker Asset Management LLC purchased a new position in Quantum Computing during the 4th quarter valued at about $29,000. Toth Financial Advisory Corp boosted its stake in Quantum Computing by 50.0% during the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock worth $31,000 after acquiring an additional 1,000 shares in the last quarter. Finally, FWL Investment Management LLC purchased a new stake in Quantum Computing in the second quarter worth about $33,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

Quantum Computing Stock Performance

NASDAQ QUBT opened at $7.30 on Thursday. Quantum Computing has a fifty-two week low of $6.18 and a fifty-two week high of $25.84. The stock has a 50 day simple moving average of $9.70 and a two-hundred day simple moving average of $9.22. The stock has a market cap of $1.65 billion, a P/E ratio of -26.07 and a beta of 3.78.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Monday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.13 million. Sell-side analysts predict that Quantum Computing will post -0.14 earnings per share for the current year.

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.