Quantum Computing Inc. (NASDAQ:QUBT) Stock Rated “Hold” by Wall Street Analysts

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have received a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. One research 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 target among brokers that have issued ratings on the stock in the last year is $18.67.

A number of equities analysts have recently weighed in on the company. Wall Street Zen lowered Quantum Computing from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Lake Street Capital restated a “buy” rating on shares of Quantum Computing in a report on Monday, July 6th. Wedbush started coverage on shares of Quantum Computing in a research note on Monday, August 3rd. They set a “neutral” rating and a $12.00 target price for the company. Cantor Fitzgerald reiterated a “neutral” rating and set a $10.00 price objective on shares of Quantum Computing in a report on Tuesday, August 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of QUBT. BlackRock Inc. bought a new stake in Quantum Computing during the second quarter valued at about $172,020,000. Bank of New York Mellon Corp purchased a new position in shares of Quantum Computing in the second quarter worth $19,164,000. Clear Street Group Inc. lifted its stake in shares of Quantum Computing by 379.8% during the fourth quarter. Clear Street Group Inc. now owns 1,149,865 shares of the company’s stock worth $11,798,000 after buying an additional 1,560,761 shares during the period. Pacific Heights Asset Management LLC acquired a new stake in shares of Quantum Computing during the second quarter worth $9,700,000. Finally, Focus Financial Network Inc. grew its holdings in shares of Quantum Computing by 402.6% during the second quarter. Focus Financial Network Inc. now owns 911,635 shares of the company’s stock valued at $8,843,000 after buying an additional 730,240 shares during the last quarter. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Price Performance

QUBT opened at $9.16 on Friday. The firm has a market cap of $2.07 billion, a P/E ratio of -130.84 and a beta of 3.78. Quantum Computing has a 1-year low of $6.18 and a 1-year high of $25.84. The company has a 50 day simple moving average of $8.36 and a two-hundred day simple moving average of $8.87.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The firm had revenue of $5.55 million for 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 computing and quantum optics technologies designed to address complex computational and optimization problems. The company focuses on photonic quantum computing, which uses light-based systems intended to operate at or near room temperature and potentially reduce the infrastructure requirements associated with some conventional quantum-computing architectures.

QCi’s offerings include quantum optimization systems and related software intended for applications such as logistics, financial modeling, artificial intelligence, machine learning, cybersecurity and drug or materials discovery.