Quantum Computing Inc. (NASDAQ:QUBT) Receives Consensus Rating of “Hold” from Analysts

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have been given a consensus recommendation of “Hold” by the seven ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $18.6667.

A number of equities analysts have recently weighed in on QUBT shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $10.00 target price on shares of Quantum Computing in a research report on Tuesday, August 11th. Lake Street Capital reissued a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th. Wall Street Zen lowered shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a report on Wednesday, June 24th. Finally, Wedbush assumed coverage on shares of Quantum Computing in a research note on Monday, August 3rd. They issued a “neutral” rating and a $12.00 price objective on the stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Quantum Computing by 38.1% in the fourth quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company’s stock valued at $172,793,000 after acquiring an additional 4,643,818 shares during the last quarter. SLT Holdings LLC increased its stake in shares of Quantum Computing by 1,028.7% during the 4th quarter. SLT Holdings LLC now owns 169,300 shares of the company’s stock worth $1,737,000 after purchasing an additional 154,300 shares during the last quarter. Focus Financial Network Inc. raised its holdings in shares of Quantum Computing by 402.6% in the 2nd quarter. Focus Financial Network Inc. now owns 911,635 shares of the company’s stock worth $8,843,000 after purchasing an additional 730,240 shares during the period. BlackRock Inc. bought a new stake in shares of Quantum Computing in the 2nd quarter worth approximately $172,020,000. Finally, Pacific Heights Asset Management LLC lifted its stake in Quantum Computing by 38.5% in the fourth quarter. Pacific Heights Asset Management LLC now owns 900,000 shares of the company’s stock valued at $9,234,000 after purchasing an additional 250,000 shares during the last quarter. 4.26% of the stock is owned by institutional investors.

Quantum Computing Trading Down 5.8%

Shares of QUBT opened at $8.15 on Monday. The stock has a market capitalization of $1.84 billion, a P/E ratio of -116.41 and a beta of 3.74. The firm’s fifty day simple moving average is $8.67 and its two-hundred day simple moving average is $8.87. Quantum Computing has a 12 month low of $6.18 and a 12 month high of $25.84.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The business had revenue of $5.55 million during the quarter, compared to analyst estimates of $5.15 million. As a group, research analysts predict that Quantum Computing will post -0.18 EPS for the current fiscal year.

About Quantum Computing

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.