Quantum Computing (NASDAQ:QUBT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Quantum Computing (NASDAQ:QUBT) from a sell rating to a hold rating in a research note published on Sunday morning.

Several other equities research analysts have also recently weighed in on the company. Lake Street Capital cut their target price on Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Ascendiant Capital Markets dropped their price objective on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Rosenblatt Securities initiated coverage on Quantum Computing in a research note on Thursday, January 15th. They issued a “buy” rating and a $22.00 price objective on the stock. Wedbush initiated coverage on Quantum Computing in a research note on Wednesday, December 17th. They set a “neutral” rating and a $12.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Quantum Computing presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Quantum Computing Trading Down 5.0%

Shares of NASDAQ:QUBT opened at $8.05 on Friday. The firm has a 50 day moving average of $10.79 and a 200-day moving average of $14.06. Quantum Computing has a 12 month low of $4.37 and a 12 month high of $25.84. The stock has a market capitalization of $1.80 billion, a PE ratio of -13.20 and a beta of 3.44.

Insider Buying and Selling at Quantum Computing

In related news, COO Milan Begliarbekov sold 2,860 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total value of $33,891.00. Following the completion of the transaction, the chief operating officer owned 24,240 shares in the company, valued at $287,244. This trade represents a 10.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 19.30% of the company’s stock.

Hedge Funds Weigh In On Quantum Computing

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Quantum Computing by 38.1% in the fourth quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company’s stock worth $172,793,000 after purchasing an additional 4,643,818 shares during the last quarter. Marex Group plc lifted its holdings in Quantum Computing by 255.6% during the 4th quarter. Marex Group plc now owns 8,272,153 shares of the company’s stock worth $84,872,000 after buying an additional 5,945,679 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Quantum Computing in the 3rd quarter valued at about $123,014,000. Anson Funds Management LP grew its position in shares of Quantum Computing by 14.9% in the 3rd quarter. Anson Funds Management LP now owns 5,373,455 shares of the company’s stock valued at $98,925,000 after buying an additional 695,092 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Quantum Computing by 45.5% in the fourth quarter. Geode Capital Management LLC now owns 4,565,192 shares of the company’s stock valued at $46,846,000 after buying an additional 1,428,120 shares during the period. 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.