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

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have received an average rating of “Hold” from the five analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $20.75.

A number of equities research analysts have recently issued reports on the stock. Wedbush started coverage on shares of Quantum Computing in a research report on Wednesday. They issued a “neutral” rating and a $12.00 target price for the company. Lake Street Capital cut their price objective on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 17th. Wall Street Zen upgraded shares of Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a report on Monday. Finally, Ascendiant Capital Markets boosted their price target on Quantum Computing from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 3rd.

Institutional Trading of Quantum Computing

Institutional investors have recently modified their holdings of the stock. J.W. Cole Advisors Inc. raised its position in shares of Quantum Computing by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company’s stock valued at $404,000 after buying an additional 770 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its position in shares of Quantum Computing by 53.5% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company’s stock worth $55,000 after acquiring an additional 1,000 shares in the last quarter. Toth Financial Advisory Corp boosted its position in shares of Quantum Computing by 100.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares in the last quarter. Two Sigma Investments LP increased its stake in Quantum Computing by 2.5% in the third quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock valued at $749,000 after acquiring an additional 1,001 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC raised its position in Quantum Computing by 9.3% during the third quarter. Gladstone Institutional Advisory LLC now owns 12,975 shares of the company’s stock valued at $239,000 after purchasing an additional 1,100 shares in the last quarter. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Trading Up 3.3%

Shares of NASDAQ QUBT opened at $11.27 on Wednesday. The firm has a market cap of $2.53 billion, a P/E ratio of -18.48 and a beta of 3.80. The business’s 50 day moving average is $14.11 and its 200-day moving average is $16.17. Quantum Computing has a 1-year low of $4.37 and a 1-year high of $27.15.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $0.38 million during the quarter, compared to the consensus estimate of $0.12 million.

About Quantum Computing

Quantum Computing Inc, an integrated photonics company, offers accessible and affordable quantum machines. The company offers Dirac systems are portable, low power, and room temperature qubit and qudit entropy quantum computers (EQC); reservoir computing; remote sensing; and single photon imaging. It also provides Quantum random number generator (uQRNG), a portable device that provides genuine random numbers directly from quantum processes; and quantum authentication which eliminates vulnerabilities inherent in classical cryptographic schemes by offering a comprehensive entanglement-based quantum cyber solution that seamlessly integrates into existing telecom fiber and communication infrastructure.