Quantum Computing Inc. (NASDAQ:QUBT) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $17.50.

Several research analysts recently weighed in on QUBT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research report on Friday, March 27th. Northland Securities started coverage on Quantum Computing in a research report on Monday, April 20th. They issued an “outperform” rating and a $20.00 target price on the stock. Wall Street Zen raised Quantum Computing from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Cantor Fitzgerald cut their target price on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price target on shares of Quantum Computing in a report on Tuesday, March 3rd.

Quantum Computing Stock Up 3.7%

Shares of Quantum Computing stock opened at $9.56 on Friday. Quantum Computing has a fifty-two week low of $6.18 and a fifty-two week high of $25.84. The firm has a market cap of $2.16 billion, a PE ratio of -34.14 and a beta of 3.70. The business’s fifty day moving average is $8.38 and its two-hundred day moving average is $9.97.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Monday, May 11th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. The firm had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $3.13 million. Equities research analysts anticipate that Quantum Computing will post -0.14 EPS for the current year.

Insider Transactions at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 9,360 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $7.85, for a total value of $73,476.00. Following the completion of the sale, the chief financial officer directly owned 1,123,038 shares in the company, valued at approximately $8,815,848.30. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.30% of the company’s stock.

Institutional Trading of Quantum Computing

Several large investors have recently added to or reduced their stakes in QUBT. FWL Investment Management LLC acquired a new stake in shares of Quantum Computing during the second quarter valued at about $33,000. New Millennium Group LLC acquired a new stake in shares of Quantum Computing during the third quarter valued at about $36,000. Strs Ohio acquired a new position in Quantum Computing in the third quarter worth about $39,000. Triumph Capital Management acquired a new position in Quantum Computing in the third quarter worth about $45,000. Finally, Aventura Private Wealth LLC acquired a new position in Quantum Computing in the fourth quarter worth about $26,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.