Ascendiant Capital Markets Lowers Quantum Computing (NASDAQ:QUBT) Price Target to $25.00

Quantum Computing (NASDAQ:QUBT) had its target price lowered by equities researchers at Ascendiant Capital Markets from $40.00 to $25.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Ascendiant Capital Markets’ price target suggests a potential upside of 113.13% from the company’s current price.

QUBT has been the subject of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 15th. Wedbush assumed coverage on Quantum Computing in a research note on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price target for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $15.00 price objective on shares of Quantum Computing in a research note on Thursday, December 18th. Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Finally, Lake Street Capital lowered their price objective on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $17.00.

Quantum Computing Stock Performance

NASDAQ QUBT opened at $11.73 on Monday. Quantum Computing has a one year low of $4.37 and a one year high of $25.84. The company has a 50-day simple moving average of $13.14 and a 200-day simple moving average of $16.12. The firm has a market capitalization of $2.63 billion, a PE ratio of -19.23 and a beta of 3.80.

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

Institutional Investors Weigh In On Quantum Computing

A number of hedge funds have recently bought and sold shares of QUBT. J.W. Cole Advisors Inc. grew its position in Quantum Computing by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company’s stock worth $404,000 after purchasing an additional 770 shares during the last quarter. Compagnie Lombard Odier SCmA increased its stake in Quantum Computing by 53.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company’s stock valued at $55,000 after acquiring an additional 1,000 shares during the period. Toth Financial Advisory Corp grew its stake in shares of Quantum Computing by 100.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the period. Two Sigma Investments LP raised its stake in Quantum Computing by 2.5% during the third quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock worth $749,000 after acquiring an additional 1,001 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its holdings in Quantum Computing by 9.3% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 12,975 shares of the company’s stock valued at $239,000 after purchasing an additional 1,100 shares during the last quarter. 4.26% of the stock is currently owned by 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.