Quantum Computing (NASDAQ:QUBT) Stock Rating Reaffirmed as Buy by Rosenblatt Securities

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

A number of other equities analysts also recently weighed in on QUBT. Wall Street Zen downgraded shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a report on Saturday. Ascendiant Capital Markets boosted their price target on shares of Quantum Computing from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Wedbush initiated coverage on Quantum Computing in a research report on Monday, August 3rd. They issued a “neutral” rating and a $12.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, September 21st. Finally, Lake Street Capital reissued a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Quantum Computing presently has an average rating of “Hold” and an average price target of $18.67.

Quantum Computing Trading Up 1.2%

Shares of NASDAQ:QUBT traded up $0.08 during midday trading on Monday, reaching $6.50. The company had a trading volume of 6,177,058 shares, compared to its average volume of 13,753,654. The company’s 50 day moving average price is $8.14 and its 200 day moving average price is $8.91. The stock has a market cap of $1.47 billion, a P/E ratio of -92.84 and a beta of 3.75. Quantum Computing has a 52-week low of $6.08 and a 52-week high of $17.40.

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 for the quarter, compared to the consensus estimate of $5.15 million. Research analysts forecast that Quantum Computing will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Quantum Computing

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wyoming purchased a new stake in Quantum Computing in the second quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Quantum Computing in the second quarter worth approximately $29,000. MCF Advisors LLC purchased a new stake in Quantum Computing in the second quarter worth approximately $29,000. EFG International AG purchased a new stake in Quantum Computing in the second quarter worth approximately $48,000. Finally, Decker Retirement Planning Inc. bought a new stake in shares of Quantum Computing in the 2nd quarter worth approximately $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.