Quantum Computing (NASDAQ:QUBT) Given “Buy” Rating at Rosenblatt Securities

Quantum Computing (NASDAQ:QUBT)‘s stock had its “buy” rating reaffirmed by research analysts at Rosenblatt Securities in a research note issued to investors on Monday, Benzinga reports. They currently have a $22.00 target price on the stock. Rosenblatt Securities‘s price target indicates a potential upside of 238.46% from the stock’s current price.

Several other brokerages also recently commented on QUBT. Lake Street Capital restated a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th. Wall Street Zen cut shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a research report on Saturday. Cantor Fitzgerald restated a “neutral” rating and set a $10.00 price objective on shares of Quantum Computing in a report on Tuesday, August 11th. Wedbush began coverage on Quantum Computing in a research note on Monday, August 3rd. They set a “neutral” rating and a $12.00 price target for the company. Finally, Ascendiant Capital Markets lifted their price target on Quantum Computing from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.67.

Quantum Computing Stock Performance

Shares of NASDAQ QUBT traded up $0.08 during midday trading on Monday, reaching $6.50. The company’s stock had a trading volume of 6,199,770 shares, compared to its average volume of 13,753,804. Quantum Computing has a fifty-two week low of $6.08 and a fifty-two week high of $17.40. The company has a market cap of $1.47 billion, a P/E ratio of -92.84 and a beta of 3.75. The business’s 50 day moving average price is $8.14 and its two-hundred day moving average price is $8.91.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The business had revenue of $5.55 million for the quarter, compared to analyst estimates of $5.15 million. Sell-side analysts forecast that Quantum Computing will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Quantum Computing

Several institutional investors and hedge funds have recently made changes to their positions in QUBT. Northwestern Mutual Wealth Management Co. purchased a new position in Quantum Computing in the 2nd quarter worth $29,000. MCF Advisors LLC purchased a new position in Quantum Computing in the 2nd quarter worth $29,000. State of Wyoming purchased a new position in Quantum Computing in the 2nd quarter worth $29,000. EFG International AG purchased a new position in Quantum Computing in the 2nd quarter worth $48,000. Finally, Decker Retirement Planning Inc. bought a new stake in Quantum Computing in the 2nd quarter worth $58,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.