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

Quantum Computing (NASDAQ:QUBT)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a report issued on Monday, Benzinga reports. They presently have a $22.00 target price on the stock. Rosenblatt Securities‘s price objective points to a potential upside of 222.58% from the company’s current price.

Several other research firms have also recently issued reports on QUBT. Wedbush started coverage on shares of Quantum Computing in a research report on Monday, August 3rd. They issued a “neutral” rating and a $12.00 target price on the stock. Cantor Fitzgerald reissued a “neutral” rating and issued a $10.00 target price on shares of Quantum Computing in a research report on Tuesday, August 11th. Ascendiant Capital Markets raised their target price on shares of Quantum Computing from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, August 26th. Wall Street Zen cut shares of Quantum Computing from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, September 21st. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.67.

Quantum Computing Price Performance

NASDAQ:QUBT opened at $6.82 on Monday. The firm has a 50 day simple moving average of $8.05 and a 200-day simple moving average of $8.91. The firm has a market cap of $1.54 billion, a PE ratio of -97.41 and a beta of 3.75. Quantum Computing has a 1-year low of $6.08 and a 1-year high of $17.35.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.15 million. As a group, sell-side analysts expect that Quantum Computing will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Quantum Computing

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in Quantum Computing by 9.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 12,515 shares of the company’s stock worth $86,000 after purchasing an additional 1,057 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in Quantum Computing by 3.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 52,924 shares of the company’s stock worth $543,000 after purchasing an additional 1,871 shares in the last quarter. Essex Financial Services Inc. increased its position in Quantum Computing by 16.3% during the 1st quarter. Essex Financial Services Inc. now owns 14,120 shares of the company’s stock worth $97,000 after purchasing an additional 1,979 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in Quantum Computing by 14.9% during the 1st quarter. Chicago Partners Investment Group LLC now owns 19,053 shares of the company’s stock worth $131,000 after purchasing an additional 2,467 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Quantum Computing by 24.1% during the 1st quarter. Principal Financial Group Inc. now owns 14,770 shares of the company’s stock worth $101,000 after purchasing an additional 2,867 shares in the last quarter. Institutional investors and hedge funds 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.