Quantum Computing (NASDAQ:QUBT) Research Coverage Started at Wedbush

Wedbush assumed coverage on shares of Quantum Computing (NASDAQ:QUBT) in a report released on Monday, MarketBeat reports. The firm issued a neutral rating and a $12.00 target price on the stock.

Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $22.00 target price on shares of Quantum Computing in a report on Monday, June 29th. Ascendiant Capital Markets lifted their price target on shares of Quantum Computing from $27.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, June 15th. Lake Street Capital reissued a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $10.00 price target on shares of Quantum Computing in a report on Wednesday, June 24th. Four equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Quantum Computing presently has a consensus rating of “Hold” and an average target price of $18.33.

Quantum Computing Stock Performance

Quantum Computing stock opened at $8.88 on Monday. The company has a market cap of $2.00 billion, a P/E ratio of -31.71 and a beta of 3.74. Quantum Computing has a one year low of $6.18 and a one year high of $25.84. The business has a fifty day moving average of $9.38 and a two-hundred day moving average of $9.09.

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

Institutional Investors Weigh In On Quantum Computing

A number of large investors have recently added to or reduced their stakes in the business. FWL Investment Management LLC acquired a new position in Quantum Computing during the second quarter worth about $33,000. Triumph Capital Management purchased a new position in shares of Quantum Computing during the 3rd quarter worth approximately $45,000. International Assets Investment Management LLC acquired a new position in shares of Quantum Computing during the 4th quarter worth approximately $26,000. Tucker Asset Management LLC acquired a new position in shares of Quantum Computing during the 4th quarter worth approximately $29,000. Finally, Horizon Investments LLC purchased a new stake in Quantum Computing in the 3rd quarter valued at approximately $55,000. 4.26% of the stock is owned by institutional investors and hedge funds.

About Quantum Computing

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.