Quantum Computing’s (QUBT) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their buy rating on shares of Quantum Computing (NASDAQ:QUBT) in a report issued on Monday morning,Benzinga reports. They currently have a $22.00 price objective on the stock.

QUBT has been the subject of several other research reports. Wedbush initiated coverage on Quantum Computing in a report on Monday, August 3rd. They set a “neutral” rating and a $12.00 price target for the company. Wall Street Zen cut Quantum Computing from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, September 21st. Ascendiant Capital Markets lifted their price objective on shares of Quantum Computing from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, August 26th. Finally, Lake Street Capital reaffirmed a “buy” rating on shares of Quantum Computing in a report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.67.

Quantum Computing Stock Performance

Shares of QUBT opened at $6.82 on Monday. The firm has a market capitalization of $1.54 billion, a P/E ratio of -97.41 and a beta of 3.75. Quantum Computing has a 52 week low of $6.08 and a 52 week high of $17.35. The stock has a 50 day moving average price of $8.05 and a two-hundred day moving average price of $8.91.

Quantum Computing (NASDAQ:QUBT) last posted its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The firm had revenue of $5.55 million during the quarter, compared to the consensus estimate of $5.15 million. On average, equities analysts forecast that Quantum Computing will post -0.19 earnings per share for the current year.

Institutional Trading of Quantum Computing

Several hedge funds have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC increased its position in Quantum Computing by 33.2% in the third quarter. Sowell Financial Services LLC now owns 16,060 shares of the company’s stock worth $136,000 after buying an additional 4,000 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new stake in shares of Quantum Computing in the third quarter valued at $88,000. Tidal Investments LLC purchased a new position in shares of Quantum Computing during the 2nd quarter valued at $322,000. MCF Advisors LLC purchased a new position in shares of Quantum Computing during the 2nd quarter valued at $29,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Quantum Computing during the 2nd quarter valued at $398,000. Institutional investors own 4.26% of the company’s stock.

About Quantum Computing

Quantum Computing, Inc (NASDAQ:QUBT) develops quantum computing and quantum communications technologies designed to make quantum capabilities more accessible to commercial, government and research customers. The company focuses on photonic and optical approaches intended to operate with less specialized infrastructure than some conventional quantum computing systems.

Its offerings include quantum optimization and machine-learning solutions, photonic quantum computing hardware and software, and related quantum cybersecurity and sensing technologies.