Quantum Computing Inc. (NASDAQ:QUBT) Receives Average Rating of “Moderate Buy” from Analysts

Quantum Computing Inc. (NASDAQ:QUBT) has earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $18.00.

Several brokerages have issued reports on QUBT. Wedbush began coverage on Quantum Computing in a research note on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price objective on the stock. Lake Street Capital dropped their price target on Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $15.00 price objective on shares of Quantum Computing in a report on Thursday, December 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, December 29th. Finally, Rosenblatt Securities assumed coverage on shares of Quantum Computing in a research report on Thursday, January 15th. They issued a “buy” rating and a $22.00 price target on the stock.

Insider Transactions at Quantum Computing

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total value of $33,891.00. Following the transaction, the chief operating officer owned 24,240 shares of the company’s stock, valued at $287,244. This trade represents a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 19.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. increased its position in Quantum Computing by 3.8% in the second quarter. J.W. Cole Advisors Inc. now owns 21,070 shares of the company’s stock worth $404,000 after buying an additional 770 shares during the period. Toth Financial Advisory Corp grew its position in shares of Quantum Computing by 100.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock worth $37,000 after acquiring an additional 1,000 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Quantum Computing by 36.5% in the 4th quarter. Signaturefd LLC now owns 3,742 shares of the company’s stock worth $38,000 after acquiring an additional 1,000 shares during the period. Two Sigma Investments LP lifted its position in Quantum Computing by 2.5% in the 3rd quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock valued at $749,000 after purchasing an additional 1,001 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its position in Quantum Computing by 9.3% in 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. Institutional investors and hedge funds own 4.26% of the company’s stock.

Quantum Computing Price Performance

QUBT opened at $9.44 on Thursday. Quantum Computing has a 12-month low of $4.37 and a 12-month high of $25.84. The stock has a market capitalization of $2.12 billion, a PE ratio of -15.48 and a beta of 3.44. The firm’s fifty day moving average price is $11.29 and its 200 day moving average price is $14.35.

Quantum Computing (NASDAQ:QUBT) last released its earnings results on Friday, November 14th. The company reported ($0.05) earnings per share 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.

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.