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

Quantum Computing Inc. (NASDAQ:QUBT) has been given a consensus recommendation of “Hold” by the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $17.50.

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

Quantum Computing Stock Down 9.0%

Shares of QUBT opened at $9.51 on Wednesday. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of -33.96 and a beta of 3.72. Quantum Computing has a 52 week low of $6.18 and a 52 week high of $25.84. The stock’s 50-day moving average price is $9.54 and its 200-day moving average price is $9.84.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.13 million. As a group, equities analysts anticipate that Quantum Computing will post -0.14 EPS for the current fiscal year.

Institutional Trading of Quantum Computing

Several institutional investors have recently bought and sold shares of QUBT. FWL Investment Management LLC purchased a new stake in Quantum Computing in the 2nd quarter worth $33,000. New Millennium Group LLC acquired a new stake in shares of Quantum Computing in the third quarter valued at about $36,000. Triumph Capital Management purchased a new stake in shares of Quantum Computing during the third quarter worth about $45,000. Aventura Private Wealth LLC purchased a new stake in shares of Quantum Computing during the fourth quarter worth about $26,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Quantum Computing during the 4th quarter worth about $26,000. 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.