Quantum Computing Inc. (NASDAQ:QUBT) Stock Has Consensus Price Target of $18.67

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have been assigned an average rating of “Hold” from the seven research firms that are currently 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 issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $18.67.

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, September 21st. Cantor Fitzgerald reissued a “neutral” rating and set a $10.00 price target on shares of Quantum Computing in a research report on Tuesday, August 11th. Rosenblatt Securities reissued a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a research report on Monday, June 29th. Wedbush started coverage on shares of Quantum Computing in a research note on Monday, August 3rd. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, Lake Street Capital restated a “buy” rating on shares of Quantum Computing in a report on Monday, July 6th.

Institutional Trading of Quantum Computing

A number of large investors have recently modified their holdings of QUBT. Tidal Investments LLC acquired a new stake in shares of Quantum Computing in the second quarter valued at $322,000. MCF Advisors LLC acquired a new position in Quantum Computing during the 2nd quarter worth approximately $29,000. WINTON GROUP Ltd acquired a new position in Quantum Computing during the 2nd quarter worth approximately $398,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Quantum Computing in the 2nd quarter valued at approximately $69,000. Finally, NewEdge Advisors LLC increased its position in shares of Quantum Computing by 89.4% in the 2nd quarter. NewEdge Advisors LLC now owns 20,718 shares of the company’s stock valued at $201,000 after purchasing an additional 9,781 shares during the last quarter. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Quantum Computing Stock Down 6.9%

QUBT opened at $6.93 on Tuesday. The stock’s fifty day moving average is $8.38 and its two-hundred day moving average is $8.92. The company has a market capitalization of $1.57 billion, a P/E ratio of -98.99 and a beta of 3.75. Quantum Computing has a 52 week low of $6.18 and a 52 week high of $23.79.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $5.55 million during the quarter, compared to analysts’ expectations of $5.15 million. Equities analysts anticipate that Quantum Computing will post -0.19 earnings per share for the current year.

Quantum Computing Company Profile

Quantum Computing, Inc (NASDAQ:QUBT), also known as QCi, develops quantum and photonic computing technologies intended to make quantum-based solutions more accessible to commercial, government and research customers. The company focuses on applications involving optimization, machine learning, cybersecurity, artificial intelligence and other complex computational problems.

QCi’s offerings have included software tools and quantum-computing systems designed for optimization and related workloads, including its Qatalyst software platform and Dirac photonic quantum computing systems.