Quantum Computing (NASDAQ:QUBT) Stock Lifted to “Sell” by Wall Street Zen

Wall Street Zen upgraded shares of Quantum Computing (NASDAQ:QUBT) from a strong sell rating to a sell rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

QUBT has been the subject of a number of other reports. Lake Street Capital reissued a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th. Ascendiant Capital Markets lifted their price target on Quantum Computing from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, September 21st. Wedbush started coverage on Quantum Computing in a report on Monday, August 3rd. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $10.00 price objective on shares of Quantum Computing in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.67.

Quantum Computing Price Performance

Shares of QUBT opened at $8.96 on Friday. Quantum Computing has a 1-year low of $6.18 and a 1-year high of $25.84. The stock has a market cap of $2.03 billion, a PE ratio of -127.98 and a beta of 3.78. The firm has a fifty day moving average price of $8.38 and a 200 day moving average price of $8.87.

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

Hedge Funds Weigh In On Quantum Computing

A number of hedge funds and other institutional investors have recently made changes to their positions in QUBT. Tidal Investments LLC purchased a new stake in shares of Quantum Computing during the second quarter worth approximately $322,000. MCF Advisors LLC acquired a new position in Quantum Computing in the 2nd quarter valued at $29,000. WINTON GROUP Ltd purchased a new position in Quantum Computing during the 2nd quarter worth $398,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Quantum Computing in the 2nd quarter worth $69,000. Finally, NewEdge Advisors LLC boosted its holdings in shares of Quantum Computing by 89.4% in the second quarter. NewEdge Advisors LLC now owns 20,718 shares of the company’s stock valued at $201,000 after acquiring an additional 9,781 shares in the last quarter. Hedge funds and other institutional investors own 4.26% of the company’s stock.

About Quantum Computing

Quantum Computing, Inc (NASDAQ: QUBT), also known as QCi, develops quantum computing and quantum optics technologies designed to address complex computational and optimization problems. The company focuses on photonic quantum computing, which uses light-based systems intended to operate at or near room temperature and potentially reduce the infrastructure requirements associated with some conventional quantum-computing architectures.

QCi’s offerings include quantum optimization systems and related software intended for applications such as logistics, financial modeling, artificial intelligence, machine learning, cybersecurity and drug or materials discovery.