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

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have received a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $17.50.

A number of equities research analysts have recently issued reports on QUBT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Northland Securities started coverage on shares of Quantum Computing in a research note on Monday, April 20th. They issued an “outperform” rating and a $20.00 price target on the stock. Cantor Fitzgerald lowered their price target on shares of Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen raised shares of Quantum Computing from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price objective on shares of Quantum Computing in a report on Tuesday, March 3rd.

Quantum Computing Price Performance

NASDAQ QUBT opened at $9.51 on Wednesday. The stock’s 50 day simple moving average is $9.54 and its 200-day simple moving average is $9.84. The company has a market cap of $2.14 billion, a PE ratio of -33.96 and a beta of 3.72. Quantum Computing has a 1-year low of $6.18 and a 1-year high of $25.84.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.02) 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 will post -0.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Quantum Computing

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FWL Investment Management LLC purchased a new position in Quantum Computing during the second quarter worth approximately $33,000. New Millennium Group LLC purchased a new stake in Quantum Computing in the 3rd quarter valued at $36,000. Triumph Capital Management purchased a new stake in Quantum Computing in the 3rd quarter valued at $45,000. Aventura Private Wealth LLC acquired a new stake in shares of Quantum Computing in the 4th quarter worth $26,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Quantum Computing in the 4th quarter worth $26,000. Institutional investors and hedge funds 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.