Quantum Computing Inc. (NASDAQ:QUBT) Receives $18.33 Average Target Price from Analysts

Quantum Computing Inc. (NASDAQ:QUBTGet Free Report) has earned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $18.3333.

Several equities analysts recently commented on the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $10.00 target price on shares of Quantum Computing in a report on Wednesday, June 24th. Northland Securities began coverage on Quantum Computing in a research report on Monday, April 20th. They set an “outperform” rating and a $20.00 price objective for the company. Lake Street Capital reiterated a “buy” rating on shares of Quantum Computing in a report on Monday, July 6th. Ascendiant Capital Markets raised their target price on Quantum Computing from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Wall Street Zen lowered Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, June 13th.

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Institutional Investors Weigh In On Quantum Computing

Several hedge funds have recently made changes to their positions in QUBT. Aventura Private Wealth LLC acquired a new position in Quantum Computing in the 4th quarter valued at about $26,000. International Assets Investment Management LLC acquired a new stake in Quantum Computing during the 4th quarter worth approximately $26,000. Rhumbline Advisers purchased a new position in shares of Quantum Computing in the 1st quarter valued at approximately $28,000. Tucker Asset Management LLC purchased a new position in shares of Quantum Computing in the 4th quarter valued at approximately $29,000. Finally, Toth Financial Advisory Corp increased its holdings in shares of 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 period. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing News Summary

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

Quantum Computing Stock Down 5.4%

Quantum Computing stock traded down $0.49 during trading on Friday, reaching $8.66. The stock had a trading volume of 8,415,474 shares, compared to its average volume of 13,510,794. Quantum Computing has a 52-week low of $6.18 and a 52-week high of $25.84. The stock has a market cap of $1.95 billion, a PE ratio of -30.93 and a beta of 3.78. The business has a 50 day moving average price of $10.30 and a 200 day moving average price of $9.54.

Quantum Computing (NASDAQ:QUBTGet Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $3.69 million during the quarter, compared to analysts’ expectations of $3.13 million. On average, equities analysts predict that Quantum Computing will post -0.14 EPS for the current fiscal year.

Quantum Computing Company Profile

(Get Free Report)

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.

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