Quantum Computing Inc. (NASDAQ:QUBT) Stock Has Average Price Target of $18.67

Quantum Computing Inc. (NASDAQ:QUBT) has received a consensus recommendation of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four 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 $18.67.

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, September 21st. Rosenblatt Securities restated a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a report on Monday. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Quantum Computing in a research note on Tuesday, August 11th. Wedbush assumed coverage on shares of Quantum Computing in a research report on Monday, August 3rd. They issued a “neutral” rating and a $12.00 price objective on the stock. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th.

Quantum Computing Stock Up 0.9%

QUBT opened at $6.42 on Tuesday. Quantum Computing has a 12 month low of $6.08 and a 12 month high of $18.88. The company has a fifty day simple moving average of $8.14 and a 200 day simple moving average of $8.91. The stock has a market cap of $1.45 billion, a P/E ratio of -91.70 and a beta of 3.75.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $5.55 million during the quarter, compared to analyst estimates of $5.15 million. On average, equities research analysts expect that Quantum Computing will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Quantum Computing in the 2nd quarter valued at about $172,020,000. Bank of New York Mellon Corp acquired a new stake in shares of Quantum Computing in the second quarter valued at about $19,164,000. Van ECK Associates Corp raised its holdings in Quantum Computing by 35.6% during the second quarter. Van ECK Associates Corp now owns 1,317,352 shares of the company’s stock worth $12,778,000 after acquiring an additional 345,750 shares in the last quarter. Pacific Heights Asset Management LLC bought a new stake in Quantum Computing during the second quarter worth about $9,700,000. Finally, Focus Financial Network Inc. boosted its position in Quantum Computing by 402.6% during the second quarter. Focus Financial Network Inc. now owns 911,635 shares of the company’s stock valued at $8,843,000 after purchasing an additional 730,240 shares during the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

About Quantum Computing

Quantum Computing, Inc (NASDAQ:QUBT), also known as QCi, develops quantum and photonic computing technologies intended to make quantum-based solutions more accessible to commercial, government and research customers. The company focuses on applications involving optimization, machine learning, cybersecurity, artificial intelligence and other complex computational problems.

QCi’s offerings have included software tools and quantum-computing systems designed for optimization and related workloads, including its Qatalyst software platform and Dirac photonic quantum computing systems.