Quantum Computing Inc. (NASDAQ:QUBT) Stock Has Consensus Price Target of $18.67 According to Brokerages

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have received an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $18.67.

QUBT has been the subject of several recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a report on Monday, June 29th. Cantor Fitzgerald reissued a “neutral” rating and issued a $10.00 target price on shares of Quantum Computing in a research report on Tuesday, August 11th. Wedbush assumed coverage on shares of Quantum Computing in a report on Monday, August 3rd. They set a “neutral” rating and a $12.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, September 21st. Finally, Lake Street Capital restated a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th.

Quantum Computing Stock Down 7.0%

NASDAQ:QUBT opened at $6.36 on Tuesday. Quantum Computing has a 1-year low of $6.08 and a 1-year high of $19.11. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -90.84 and a beta of 3.75. The stock has a fifty day simple moving average of $8.19 and a 200 day simple moving average of $8.90.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $5.55 million during the quarter, compared to analysts’ expectations of $5.15 million. Equities analysts predict that Quantum Computing will post -0.19 earnings per share for the current year.

Institutional Trading of Quantum Computing

Several large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC purchased a new stake in shares of Quantum Computing in the second quarter worth approximately $322,000. MCF Advisors LLC acquired a new stake in shares of Quantum Computing during the second quarter worth approximately $29,000. WINTON GROUP Ltd acquired a new stake in shares of Quantum Computing during the second quarter worth approximately $398,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Quantum Computing during the second quarter worth approximately $69,000. Finally, NewEdge Advisors LLC grew its position in Quantum Computing by 89.4% during the second quarter. NewEdge Advisors LLC now owns 20,718 shares of the company’s stock valued at $201,000 after purchasing an additional 9,781 shares in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

About Quantum Computing

Quantum Computing, Inc (NASDAQ:QUBT), also known as QCi, develops quantum and photonic computing technologies intended to make quantum-based solutions more accessible to commercial, government and research customers. The company focuses on applications involving optimization, machine learning, cybersecurity, artificial intelligence and other complex computational problems.

QCi’s offerings have included software tools and quantum-computing systems designed for optimization and related workloads, including its Qatalyst software platform and Dirac photonic quantum computing systems.