Quantum Computing Inc. (NASDAQ:QUBT) Receives $17.00 Average Target Price from Brokerages

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have been assigned a consensus rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $17.00.

Several equities research analysts have recently weighed in on QUBT shares. Wall Street Zen lowered shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Ascendiant Capital Markets cut their price target on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Friday, March 27th. Cantor Fitzgerald decreased their price objective on shares of Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Finally, Rosenblatt Securities restated a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a research report on Tuesday, March 3rd.

Quantum Computing Stock Performance

NASDAQ QUBT opened at $6.87 on Friday. The business’s 50 day moving average price is $8.25 and its 200-day moving average price is $12.29. Quantum Computing has a fifty-two week low of $5.76 and a fifty-two week high of $25.84. The company has a market cap of $1.54 billion, a P/E ratio of -45.80 and a beta of 3.67.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.39 million.

Insider Buying and Selling

In other Quantum Computing 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 value of $33,891.00. Following the sale, the chief operating officer owned 24,240 shares in the company, valued at $287,244. This trade represents a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Christopher Bruce Roberts sold 9,360 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $7.85, for a total value of $73,476.00. Following the completion of the sale, the chief financial officer owned 1,123,038 shares in the company, valued at approximately $8,815,848.30. The trade was a 0.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 81,122 shares of company stock valued at $648,248 over the last three months. 19.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QUBT. Aventura Private Wealth LLC purchased a new position in shares of Quantum Computing during the fourth quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new stake in shares of Quantum Computing in the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its holdings 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 valued at $28,000 after purchasing an additional 1,319 shares during the period. Rhumbline Advisers bought a new position in Quantum Computing in the first quarter worth approximately $28,000. Finally, Tucker Asset Management LLC purchased a new position in Quantum Computing during the 4th quarter worth $29,000. 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.