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

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $17.50.

A number of research analysts have weighed in on the company. Northland Securities initiated coverage on Quantum Computing in a research note on Monday. They issued an “outperform” rating and a $20.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Wall Street Zen lowered shares of Quantum Computing from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Cantor Fitzgerald cut 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 report on Tuesday, March 3rd.

Quantum Computing Stock Performance

NASDAQ QUBT opened at $9.80 on Tuesday. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -66.08 and a beta of 3.67. The business has a 50 day simple moving average of $7.77 and a 200 day simple moving average of $11.21. Quantum Computing has a 52-week low of $5.89 and a 52-week high of $25.84.

Quantum Computing (NASDAQ:QUBT) last released its 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 firm had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.39 million. On average, analysts predict that Quantum Computing will post -0.23 EPS for the current year.

Insider Transactions at Quantum Computing

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 9,360 shares of Quantum Computing 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 transaction, the chief financial officer directly owned 1,123,038 shares of the company’s stock, valued at $8,815,848.30. The trade was a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.30% of the stock is owned by corporate insiders.

Institutional Trading of Quantum Computing

Several large investors have recently bought and sold shares of QUBT. Vanguard Group Inc. lifted its holdings in shares of Quantum Computing by 38.1% in the fourth quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company’s stock worth $172,793,000 after acquiring an additional 4,643,818 shares during the last quarter. Marex Group plc raised its holdings in Quantum Computing by 255.6% during the 4th quarter. Marex Group plc now owns 8,272,153 shares of the company’s stock worth $84,872,000 after purchasing an additional 5,945,679 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Quantum Computing in the 3rd quarter worth approximately $123,014,000. Anson Funds Management LP boosted its stake in shares of Quantum Computing by 14.9% in the 3rd quarter. Anson Funds Management LP now owns 5,373,455 shares of the company’s stock valued at $98,925,000 after purchasing an additional 695,092 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Quantum Computing by 45.5% during the fourth quarter. Geode Capital Management LLC now owns 4,565,192 shares of the company’s stock worth $46,846,000 after buying an additional 1,428,120 shares during the period. 4.26% of the stock is owned by institutional investors and hedge funds.

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.