Quantum Computing’s (QUBT) Neutral Rating Reaffirmed at Cantor Fitzgerald

Quantum Computing (NASDAQ:QUBT)‘s stock had its “neutral” rating reiterated by analysts at Cantor Fitzgerald in a report released on Thursday,Benzinga reports. They currently have a $15.00 price target on the stock. Cantor Fitzgerald’s price objective would suggest a potential upside of 46.77% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Lake Street Capital reduced their target price on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday. Ascendiant Capital Markets boosted their target price on Quantum Computing from $22.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Wedbush assumed coverage on Quantum Computing in a research report on Wednesday. They set a “neutral” rating and a $12.00 price target on the stock. Finally, Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.75.

Quantum Computing Trading Down 9.3%

Shares of NASDAQ QUBT opened at $10.22 on Thursday. The stock’s 50-day moving average is $13.90 and its 200 day moving average is $16.13. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -16.75 and a beta of 3.80. Quantum Computing has a 1-year low of $4.37 and a 1-year high of $27.15.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.12 million.

Hedge Funds Weigh In On Quantum Computing

Several hedge funds have recently made changes to their positions in QUBT. Alyeska Investment Group L.P. bought a new stake in Quantum Computing in the third quarter valued at $123,014,000. Ghisallo Capital Management LLC bought a new stake in shares of Quantum Computing during the 3rd quarter valued at about $74,194,000. Vanguard Group Inc. increased its position in shares of Quantum Computing by 23.1% during the third quarter. Vanguard Group Inc. now owns 12,197,605 shares of the company’s stock valued at $224,558,000 after buying an additional 2,286,514 shares during the period. Geode Capital Management LLC increased its position in shares of Quantum Computing by 116.8% during the second quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company’s stock valued at $50,433,000 after buying an additional 1,416,928 shares during the period. Finally, Polar Asset Management Partners Inc. raised its stake in Quantum Computing by 72.3% in the third quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company’s stock worth $48,643,000 after buying an additional 1,127,427 shares in the last quarter. 4.26% of the stock is owned by hedge funds and other institutional investors.

About Quantum Computing

Quantum Computing Inc, an integrated photonics company, offers accessible and affordable quantum machines. The company offers Dirac systems are portable, low power, and room temperature qubit and qudit entropy quantum computers (EQC); reservoir computing; remote sensing; and single photon imaging. It also provides Quantum random number generator (uQRNG), a portable device that provides genuine random numbers directly from quantum processes; and quantum authentication which eliminates vulnerabilities inherent in classical cryptographic schemes by offering a comprehensive entanglement-based quantum cyber solution that seamlessly integrates into existing telecom fiber and communication infrastructure.