Quantum Computing (NASDAQ:QUBT) Shares Up 11.5% – Still a Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) rose 11.5% during mid-day trading on Friday . The stock traded as high as $8.49 and last traded at $8.7050. Approximately 2,095,039 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 16,781,521 shares. The stock had previously closed at $7.81.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Cantor Fitzgerald reiterated a “neutral” rating and issued a $15.00 price target on shares of Quantum Computing in a research note on Thursday, December 18th. Ascendiant Capital Markets dropped their target price on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Lake Street Capital lowered their price objective on Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, December 29th. Finally, Wedbush initiated coverage on shares of Quantum Computing in a report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

Quantum Computing Price Performance

The firm has a market cap of $2.13 billion, a P/E ratio of -15.63 and a beta of 3.44. The company’s 50-day simple moving average is $11.37 and its 200 day simple moving average is $14.50.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share (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.

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of the business’s 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 transaction, the chief operating officer owned 24,240 shares of the company’s stock, valued at approximately $287,244. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 19.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Aventura Private Wealth LLC acquired a new stake in shares of Quantum Computing in the 4th quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in Quantum Computing in the fourth quarter valued at approximately $26,000. Nisa Investment Advisors LLC purchased a new position in shares of Quantum Computing in the second quarter valued at $28,000. Farther Finance Advisors LLC increased its stake in shares of Quantum Computing by 724.7% in the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock worth $28,000 after buying an additional 1,319 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in Quantum Computing during the first quarter worth $28,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.