Quantum Computing (NASDAQ:QUBT) Rating Increased to Hold at Wall Street Zen

Quantum Computing (NASDAQ:QUBT) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other analysts also recently issued reports on the stock. Ascendiant Capital Markets cut their price objective on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $15.00 price target on shares of Quantum Computing in a research note on Thursday, December 18th. Lake Street Capital lowered their price objective on Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 29th. Finally, Wedbush initiated coverage on shares of Quantum Computing in a research report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.00.

Quantum Computing Stock Up 3.4%

Shares of QUBT opened at $8.47 on Friday. Quantum Computing has a twelve month low of $4.37 and a twelve month high of $25.84. The company has a 50 day moving average of $10.99 and a 200-day moving average of $14.15. The stock has a market capitalization of $1.90 billion, a P/E ratio of -13.89 and a beta of 3.44.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.12 million.

Insider Activity at Quantum Computing

In other news, COO Milan Begliarbekov sold 2,860 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total transaction of $33,891.00. Following the completion of the transaction, the chief operating officer directly owned 24,240 shares in the company, valued at $287,244. The trade was a 10.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 19.30% of the company’s stock.

Institutional Trading of Quantum Computing

A number of hedge funds have recently made changes to their positions in the stock. Aventura Private Wealth LLC bought a new position in shares of Quantum Computing during the 4th quarter valued at $26,000. International Assets Investment Management LLC bought a new stake in Quantum Computing during the 4th quarter valued at approximately $26,000. Nisa Investment Advisors LLC purchased a new stake in Quantum Computing in the second quarter worth $28,000. Farther Finance Advisors LLC increased its stake in shares of Quantum Computing by 724.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock worth $28,000 after acquiring an additional 1,319 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of Quantum Computing during the first quarter valued at approximately $28,000. 4.26% of the stock is 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.