Quantum Computing Inc. (NASDAQ:QUBT) Given Average Recommendation of “Moderate Buy” by Analysts

Quantum Computing Inc. (NASDAQ:QUBT) has been given an average rating of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $18.00.

Several analysts recently weighed in on the company. Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Ascendiant Capital Markets lowered their price target on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, December 29th. Rosenblatt Securities began coverage on shares of Quantum Computing in a report on Thursday, January 15th. They issued a “buy” rating and a $22.00 target price for the company. Finally, Lake Street Capital cut their price target 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.

Quantum Computing Price Performance

NASDAQ:QUBT opened at $8.83 on Thursday. The firm’s 50-day moving average price is $11.44 and its 200-day moving average price is $14.55. The company has a market capitalization of $1.98 billion, a PE ratio of -14.39 and a beta of 3.44. Quantum Computing has a 1-year low of $4.37 and a 1-year high of $25.84.

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

Insider Activity

In related news, COO Milan Begliarbekov sold 2,860 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total transaction of $33,891.00. Following the sale, the chief operating officer directly owned 24,240 shares of the company’s stock, valued at $287,244. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 19.30% of the stock is currently owned by insiders.

Institutional Trading of Quantum Computing

A number of large investors have recently made changes to their positions in QUBT. Nisa Investment Advisors LLC purchased a new stake in Quantum Computing in the second quarter worth approximately $28,000. Farther Finance Advisors LLC lifted its holdings in shares of Quantum Computing by 724.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock valued at $28,000 after buying an additional 1,319 shares during the period. FWL Investment Management LLC purchased a new position in shares of Quantum Computing in the 2nd quarter worth $33,000. New Millennium Group LLC purchased a new position in shares of Quantum Computing in the 3rd quarter worth $36,000. Finally, Toth Financial Advisory Corp grew its holdings in shares of Quantum Computing by 100.0% in the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares during the period. 4.26% of the stock is currently owned by institutional investors.

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.