Quantum Computing’s (QUBT) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Quantum Computing (NASDAQ:QUBT) in a research note released on Monday morning,Benzinga reports. The firm currently has a $22.00 price objective on the stock.

Several other equities analysts also recently weighed in on the company. Cantor Fitzgerald reissued a “neutral” rating and set a $10.00 price target on shares of Quantum Computing in a research report on Tuesday, August 11th. Wedbush assumed coverage on Quantum Computing in a research report on Monday, August 3rd. They issued a “neutral” rating and a $12.00 price objective on the stock. Wall Street Zen downgraded Quantum Computing from a “sell” rating to a “strong sell” rating in a research report on Saturday. Lake Street Capital reaffirmed a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Finally, Ascendiant Capital Markets lifted their price objective on Quantum Computing from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Four 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 MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $18.67.

Quantum Computing Price Performance

Shares of QUBT opened at $6.42 on Monday. Quantum Computing has a 1-year low of $6.08 and a 1-year high of $18.88. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -91.70 and a beta of 3.75. The firm has a 50 day simple moving average of $8.14 and a 200-day simple moving average of $8.91.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) 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. On average, equities analysts expect that Quantum Computing will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Quantum Computing

Hedge funds have recently bought and sold shares of the company. State of Wyoming purchased a new stake in Quantum Computing during the 2nd quarter worth $29,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Quantum Computing in the 2nd quarter valued at $29,000. MCF Advisors LLC acquired a new stake in Quantum Computing in the 2nd quarter valued at $29,000. EFG International AG purchased a new position in Quantum Computing in the second quarter valued at about $48,000. Finally, Decker Retirement Planning Inc. purchased a new position in Quantum Computing in the second quarter valued at about $58,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Company Profile

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.