Quantum Computing Inc. (NASDAQ:QUBT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Quantum Computing Inc. (NASDAQ:QUBT) has earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $18.00.

Several analysts have weighed in on the stock. Ascendiant Capital Markets lowered 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 note on Monday, December 22nd. Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Cantor Fitzgerald reiterated a “neutral” rating and issued a $15.00 price objective on shares of Quantum Computing in a research report on Thursday, December 18th. Wedbush began coverage on shares of Quantum Computing in a report on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 target price on the stock. Finally, Rosenblatt Securities initiated coverage on shares of Quantum Computing in a research report on Thursday, January 15th. They set a “buy” rating and a $22.00 price target for the company.

Quantum Computing Stock Performance

NASDAQ QUBT opened at $8.83 on Thursday. Quantum Computing has a 52-week low of $4.37 and a 52-week high of $25.84. The company has a fifty day moving average of $11.44 and a 200-day moving average of $14.55. The company has a market capitalization of $1.98 billion, a P/E ratio of -14.39 and a beta of 3.44.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.12 million.

Insider Buying and Selling

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total value of $33,891.00. Following the completion of the sale, the chief operating officer owned 24,240 shares in the company, valued at approximately $287,244. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 19.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in QUBT. Independent Advisor Alliance lifted its position in shares of Quantum Computing by 6.1% in the 4th quarter. Independent Advisor Alliance now owns 36,204 shares of the company’s stock worth $371,000 after purchasing an additional 2,067 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Quantum Computing in the fourth quarter worth about $121,000. Fortem Financial Group LLC bought a new stake in Quantum Computing during the 4th quarter valued at approximately $205,000. International Assets Investment Management LLC purchased a new position in shares of Quantum Computing during the 4th quarter worth approximately $26,000. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Quantum Computing by 22.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 157,357 shares of the company’s stock valued at $1,614,000 after purchasing an additional 29,322 shares during the period. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.