Quantum Computing Inc. (NASDAQ:QUBT) Given Consensus Recommendation of “Hold” by Analysts

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have received a consensus recommendation of “Hold” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $17.00.

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday. Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Lake Street Capital lowered their price target on Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Wedbush initiated coverage on Quantum Computing in a research note on Wednesday, December 17th. They set a “neutral” rating and a $12.00 target price on the stock. Finally, Ascendiant Capital Markets reduced their price target on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Monday.

Quantum Computing Price Performance

Shares of QUBT opened at $11.73 on Wednesday. The firm’s 50 day moving average is $13.14 and its 200-day moving average is $16.12. Quantum Computing has a 12-month low of $4.37 and a 12-month high of $25.84. The stock has a market capitalization of $2.63 billion, a P/E ratio of -19.23 and a beta of 3.80.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, hitting 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.

Hedge Funds Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC bought a new stake in Quantum Computing in the second quarter worth approximately $28,000. Farther Finance Advisors LLC boosted its holdings in 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 purchasing an additional 1,319 shares in the last quarter. Rhumbline Advisers acquired a new position in Quantum Computing during the first quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Quantum Computing during the second quarter valued at about $29,000. Finally, FWL Investment Management LLC bought a new position in Quantum Computing during the second quarter valued at about $33,000. 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.