Quantum Computing Inc. (NASDAQ:QUBT) Receives Consensus Rating of “Hold” from Brokerages

Quantum Computing Inc. (NASDAQ:QUBT) has received a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $18.3333.

A number of research firms have commented on QUBT. Ascendiant Capital Markets boosted their price objective on Quantum Computing from $27.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. Wall Street Zen lowered Quantum Computing from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $10.00 price target on shares of Quantum Computing in a report on Tuesday, August 11th. Lake Street Capital reiterated a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a research report on Monday, June 29th.

Quantum Computing Trading Down 0.1%

NASDAQ:QUBT opened at $8.91 on Monday. Quantum Computing has a 1 year low of $6.18 and a 1 year high of $25.84. The firm has a 50 day moving average of $8.88 and a 200-day moving average of $8.89. The stock has a market capitalization of $2.02 billion, a P/E ratio of -127.27 and a beta of 3.74.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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. As a group, analysts forecast that Quantum Computing will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Quantum Computing

A number of large investors have recently modified their holdings of QUBT. International Assets Investment Management LLC bought a new position in Quantum Computing in the 4th quarter worth approximately $26,000. Rhumbline Advisers bought a new position in Quantum Computing in the 1st quarter valued at $28,000. Tucker Asset Management LLC bought a new position in Quantum Computing in the 4th quarter valued at $29,000. State of Wyoming acquired a new stake in shares of Quantum Computing in the 2nd quarter valued at $29,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Quantum Computing in the 2nd quarter valued at $29,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.