Simplicity Wealth LLC Acquires New Position in Quantum Computing Inc. $QUBT

Simplicity Wealth LLC acquired a new stake in Quantum Computing Inc. (NASDAQ:QUBT) in the second quarter, HoldingsChannel.com reports. The fund acquired 58,028 shares of the company’s stock, valued at approximately $563,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FWL Investment Management LLC purchased a new stake in shares of Quantum Computing in the second quarter valued at approximately $33,000. Triumph Capital Management acquired a new position in Quantum Computing during the third quarter worth $45,000. International Assets Investment Management LLC purchased a new stake in Quantum Computing in the 4th quarter valued at $26,000. Tucker Asset Management LLC acquired a new stake in shares of Quantum Computing in the 4th quarter worth $29,000. Finally, Horizon Investments LLC purchased a new position in shares of Quantum Computing during the 3rd quarter worth $55,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on QUBT. Wall Street Zen cut shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a research report on Saturday. Wedbush assumed coverage on shares of Quantum Computing in a research report on Monday, August 3rd. They set a “neutral” rating and a $12.00 price target on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Quantum Computing in a research report on Monday, June 29th. Northland Securities initiated coverage on Quantum Computing in a research note on Monday, April 20th. They set an “outperform” rating and a $20.00 target price for the company. Finally, Ascendiant Capital Markets boosted their price target on shares of Quantum Computing from $27.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, June 15th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.33.

Quantum Computing Stock Performance

QUBT stock opened at $9.05 on Tuesday. Quantum Computing Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $25.84. The company’s 50 day moving average price is $8.98 and its 200 day moving average price is $8.93. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of -129.27 and a beta of 3.74.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share (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 analyst estimates of $5.15 million. Equities analysts forecast that Quantum Computing Inc. will post -0.18 EPS for the current fiscal year.

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.