Quantum Computing (NASDAQ:QUBT) Sees Strong Trading Volume – Still a Buy?

Quantum Computing Inc. (NASDAQ:QUBT) shares saw unusually-strong trading volume on Friday . Approximately 18,633,829 shares were traded during trading, an increase of 15% from the previous session’s volume of 16,235,482 shares.The stock last traded at $12.9090 and had previously closed at $11.41.

Key Quantum Computing News

Here are the key news stories impacting Quantum Computing this week:

• Positive Sentiment: Quantum computing stocks are seeing a second straight session of strong buying, with QUBT rising as part of a broader sector rebound and rally in pure-play quantum names. Article Title
• Positive Sentiment: Recent reports that the U.S. government is backing quantum development and supercomputing projects have boosted sentiment toward Quantum Computing Inc. and the broader sector. Article Title
• Neutral Sentiment: Market commentary continues to frame QUBT as a high-risk, speculative “moonshot” quantum stock, with heavy short interest adding to volatility and the potential for continued sharp swings. Article Title

Analyst Ratings Changes

A number of equities analysts have recently issued reports on QUBT shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Friday, March 27th. Northland Securities started coverage on Quantum Computing in a research report on Monday, April 20th. They issued an “outperform” rating and a $20.00 target price on the stock. Wall Street Zen raised Quantum Computing from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Cantor Fitzgerald cut their target price on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $17.50.

Quantum Computing Trading Up 15.8%

The firm has a 50-day moving average of $8.45 and a 200-day moving average of $9.93. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -47.49 and a beta of 3.70.

Quantum Computing (NASDAQ:QUBT) last released its earnings results on Monday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $3.69 million during the quarter, compared to analyst estimates of $3.13 million. On average, equities research analysts anticipate that Quantum Computing Inc. will post -0.14 EPS for the current year.

Insider Buying and Selling

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 9,360 shares of the company’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total value of $73,476.00. Following the sale, the chief financial officer directly owned 1,123,038 shares of the company’s stock, valued at approximately $8,815,848.30. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Quantum Computing

Several hedge funds have recently added to or reduced their stakes in QUBT. Aventura Private Wealth LLC purchased a new stake in Quantum Computing in the fourth quarter valued at $26,000. International Assets Investment Management LLC purchased a new stake in Quantum Computing in the fourth quarter valued at $26,000. Rhumbline Advisers purchased a new stake in Quantum Computing in the first quarter valued at $28,000. Tucker Asset Management LLC purchased a new stake in Quantum Computing in the fourth quarter valued at $29,000. Finally, Toth Financial Advisory Corp boosted its holdings in Quantum Computing by 50.0% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock valued at $31,000 after purchasing an additional 1,000 shares during the last quarter. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.