Quantum Computing Inc. (NASDAQ:QUBT) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analyst consensus is “Hold” among seven firms covering Quantum Computing, with four buys, two holds and one sell. The average 12-month price target is $18.67, though targets range from $12 to $32.
• QUBT shares opened at $8.44, with a $1.91 billion market capitalization, and have traded between $6.18 and $25.84 over the past year. The stock’s beta of 3.78 indicates substantial volatility.
• Quantum Computing reported quarterly revenue of $5.55 million, exceeding estimates of $5.15 million, but its adjusted loss of $0.05 per share missed the consensus loss estimate of $0.03. Institutional investors own 4.26% of the company.

Shares of Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) have been assigned an average recommendation of "Hold" from the seven research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $18.6667.

QUBT has been the topic of several research analyst reports. Lake Street Capital reiterated a "buy" rating on shares of Quantum Computing in a research note on Monday, July 6th. Wall Street Zen lowered shares of Quantum Computing from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Rosenblatt Securities reissued a "buy" rating and issued a $22.00 price objective on shares of Quantum Computing in a report on Monday, June 29th. Ascendiant Capital Markets boosted their price target on Quantum Computing from $30.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, August 26th. Finally, Wedbush initiated coverage on shares of Quantum Computing in a research note on Monday, August 3rd. They issued a "neutral" rating and a $12.00 target price for the company.

Quantum Computing Trading Up 5.5%

Shares of NASDAQ:QUBT opened at $8.44 on Friday. The company has a market capitalization of $1.91 billion, a PE ratio of -120.55 and a beta of 3.78. The business's fifty day simple moving average is $8.27 and its 200-day simple moving average is $8.83. Quantum Computing has a 12-month low of $6.18 and a 12-month high of $25.84.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $5.55 million during the quarter, compared to analysts' expectations of $5.15 million. Research analysts predict that Quantum Computing will post -0.19 EPS for the current year.

Institutional Trading of Quantum Computing

Several large investors have recently bought and sold shares of QUBT. PNC Financial Services Group Inc. raised its stake in shares of 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. boosted its position in Quantum Computing by 3.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 52,924 shares of the company's stock valued at $543,000 after buying an additional 1,871 shares in the last quarter. Essex Financial Services Inc. raised its stake in shares of Quantum Computing by 16.3% in the first quarter. Essex Financial Services Inc. now owns 14,120 shares of the company's stock valued at $97,000 after acquiring an additional 1,979 shares during the last quarter. Chicago Partners Investment Group LLC grew 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 acquiring an additional 2,467 shares during the last quarter. Finally, Principal Financial Group Inc. lifted 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 valued at $101,000 after purchasing an additional 2,867 shares during the period. Hedge funds and other institutional investors own 4.26% of the company's stock.

Quantum Computing Company Profile

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.

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