Quantum Computing (NASDAQ:QUBT) Stock Keeps Buy Rating at Rosenblatt Securities

Quantum Computing (NASDAQ:QUBT)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research note issued on Monday, Benzinga reports. They currently have a $22.00 price target on the stock. Rosenblatt Securities’ target price would suggest a potential upside of 236.13% from the company’s current price.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a research note on Saturday. Cantor Fitzgerald reiterated a “neutral” rating and set a $10.00 price objective on shares of Quantum Computing in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, September 21st. Lake Street Capital reaffirmed a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Finally, 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. 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 company. Based on data from MarketBeat, Quantum Computing has an average rating of “Hold” and an average target price of $18.67.

Quantum Computing Price Performance

Quantum Computing stock traded up $0.13 during mid-day trading on Monday, hitting $6.55. 3,930,597 shares of the company were exchanged, compared to its average volume of 13,741,988. Quantum Computing has a 12-month low of $6.08 and a 12-month high of $17.40. The business’s 50 day simple moving average is $8.14 and its two-hundred day simple moving average is $8.91. The company has a market capitalization of $1.48 billion, a P/E ratio of -93.77 and a beta of 3.75.

Quantum Computing (NASDAQ:QUBT) last released 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 business had revenue of $5.55 million for the quarter, compared to the consensus estimate of $5.15 million. Equities research analysts predict that Quantum Computing will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. boosted its stake in shares of Quantum Computing by 9.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,515 shares of the company’s stock worth $86,000 after purchasing an additional 1,057 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Quantum Computing by 3.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 52,924 shares of the company’s stock valued at $543,000 after buying an additional 1,871 shares during the last quarter. Essex Financial Services Inc. raised its position in shares of Quantum Computing by 16.3% in the first quarter. Essex Financial Services Inc. now owns 14,120 shares of the company’s stock valued at $97,000 after buying an additional 1,979 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Quantum Computing by 14.9% in the first quarter. Chicago Partners Investment Group LLC now owns 19,053 shares of the company’s stock valued at $131,000 after buying an additional 2,467 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Quantum Computing by 24.1% during the first quarter. Principal Financial Group Inc. now owns 14,770 shares of the company’s stock valued at $101,000 after buying an additional 2,867 shares during the period. 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.