Quantum Computing Inc. (NASDAQ:QUBT) Given Average Rating of “Hold” by Analysts

Quantum Computing Inc. (NASDAQ:QUBT) has been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $17.50.

Several equities research analysts recently issued reports on QUBT shares. Wall Street Zen downgraded Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Cantor Fitzgerald decreased their price target on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Northland Securities started coverage on Quantum Computing in a report on Monday, April 20th. They set an “outperform” rating and a $20.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a report on Tuesday, March 3rd.

Quantum Computing Stock Performance

Shares of NASDAQ QUBT opened at $9.93 on Wednesday. The company has a market cap of $2.24 billion, a price-to-earnings ratio of -35.46 and a beta of 3.72. Quantum Computing has a 12 month low of $6.18 and a 12 month high of $25.84. The stock has a 50-day moving average price of $9.73 and a two-hundred day moving average price of $9.82.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Monday, May 11th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.03. The business had revenue of $3.69 million for the quarter, compared to analyst estimates of $3.13 million. On average, sell-side analysts predict that Quantum Computing will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors have recently bought and sold shares of QUBT. FWL Investment Management LLC bought a new position in Quantum Computing in the 2nd quarter valued at $33,000. New Millennium Group LLC bought a new position in Quantum Computing in the 3rd quarter valued at $36,000. Triumph Capital Management bought a new position in Quantum Computing in the 3rd quarter valued at $45,000. Aventura Private Wealth LLC bought a new position in Quantum Computing in the 4th quarter valued at $26,000. Finally, International Assets Investment Management LLC bought a new position in Quantum Computing in the 4th quarter valued at $26,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Company Profile

Quantum Computing Inc (NASDAQ: QUBT) is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.

The company’s flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.