Quantum Computing (NASDAQ:QUBT) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of Quantum Computing (NASDAQ:QUBT) from a sell rating to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.

QUBT has been the topic of several other research reports. Wedbush began coverage on Quantum Computing in a research note on Monday, August 3rd. They issued a “neutral” rating and a $12.00 price objective on the stock. Ascendiant Capital Markets raised their target price on Quantum Computing from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Lake Street Capital reissued a “buy” rating on shares of Quantum Computing in a research report on Monday, July 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research note on Monday, September 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a research report on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $18.67.

Quantum Computing Stock Up 0.9%

QUBT opened at $6.42 on Friday. Quantum Computing has a twelve month low of $6.08 and a twelve month high of $18.88. The company’s 50-day moving average price is $8.14 and its two-hundred day moving average price is $8.91. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -91.70 and a beta of 3.75.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings results 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 firm had revenue of $5.55 million for the quarter, compared to the consensus estimate of $5.15 million. As a group, sell-side analysts anticipate that Quantum Computing will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new stake in Quantum Computing during the 2nd quarter valued at $29,000. MCF Advisors LLC bought a new position in shares of Quantum Computing in the second quarter worth $29,000. State of Wyoming bought a new position in shares of Quantum Computing in the second quarter worth $29,000. EFG International AG bought a new position in shares of Quantum Computing in the second quarter worth $48,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Quantum Computing in the second quarter worth $58,000. 4.26% of the stock is owned by institutional investors.

About Quantum Computing

Quantum Computing, Inc (NASDAQ:QUBT), also known as QCi, develops quantum and photonic computing technologies intended to make quantum-based solutions more accessible to commercial, government and research customers. The company focuses on applications involving optimization, machine learning, cybersecurity, artificial intelligence and other complex computational problems.

QCi’s offerings have included software tools and quantum-computing systems designed for optimization and related workloads, including its Qatalyst software platform and Dirac photonic quantum computing systems.