Quantum Computing (NASDAQ:QUBT) Upgraded at 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 report sent to investors on Saturday,Wall Street Zen reports.

A number of other research firms have also recently commented on QUBT. Rosenblatt Securities reiterated a “buy” rating and issued a $22.00 price target on shares of Quantum Computing in a research note on Monday, October 19th. Wedbush started coverage on shares of Quantum Computing in a report on Monday, August 3rd. They set a “neutral” rating and a $12.00 price objective on the stock. Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $30.00 to $32.00 and gave the company 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. Finally, Lake Street Capital reissued a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th. Four research 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 company has an average rating of “Hold” and a consensus target price of $18.67.

Quantum Computing Trading Down 4.1%

NASDAQ QUBT opened at $6.33 on Friday. The firm’s fifty day simple moving average is $7.73 and its two-hundred day simple moving average is $8.74. Quantum Computing has a 12-month low of $6.08 and a 12-month high of $16.68. The firm has a market capitalization of $1.43 billion, a P/E ratio of -90.42 and a beta of 3.75.

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

Institutional Trading of Quantum Computing

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its position in Quantum Computing by 9.6% during the third quarter. Commonwealth Equity Services LLC now owns 75,394 shares of the company’s stock valued at $637,000 after purchasing an additional 6,617 shares during the period. Chicago Partners Investment Group LLC grew its position in Quantum Computing by 19.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 28,097 shares of the company’s stock worth $184,000 after purchasing an additional 4,669 shares during the period. Pinnacle Wealth Planning Services Inc. grew its position in Quantum Computing by 106.4% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,948 shares of the company’s stock worth $25,000 after purchasing an additional 1,520 shares during the period. Corecam Pte. Ltd. grew its position in Quantum Computing by 35.9% during the 3rd quarter. Corecam Pte. Ltd. now owns 82,730 shares of the company’s stock worth $699,000 after purchasing an additional 21,871 shares during the period. Finally, Simplicity Wealth LLC raised its stake in shares of Quantum Computing by 9.5% during the 3rd quarter. Simplicity Wealth LLC now owns 63,532 shares of the company’s stock valued at $537,000 after buying an additional 5,504 shares during the last quarter. Hedge funds and other institutional investors own 4.26% of the company’s stock.

Quantum Computing Company Profile

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.