BlackRock Inc. bought a new position in shares of Quantum Computing Inc. (NASDAQ:QUBT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,733,975 shares of the company's stock, valued at approximately $172,020,000. BlackRock Inc. owned 7.86% of Quantum Computing as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of QUBT. International Assets Investment Management LLC bought a new position in shares of Quantum Computing in the 4th quarter worth $26,000. Rhumbline Advisers bought a new stake in Quantum Computing during the first quarter valued at about $28,000. Tucker Asset Management LLC purchased a new position in Quantum Computing in the fourth quarter valued at about $29,000. State of Wyoming purchased a new position in Quantum Computing in the second quarter valued at about $29,000. Finally, FWL Investment Management LLC bought a new position in Quantum Computing in the second quarter worth about $33,000. Institutional investors own 4.26% of the company's stock.
Quantum Computing Stock Performance
Shares of QUBT stock opened at $8.65 on Friday. Quantum Computing Inc. has a fifty-two week low of $6.18 and a fifty-two week high of $25.84. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of -123.55 and a beta of 3.74. The stock's 50-day simple moving average is $8.72 and its 200-day simple moving average is $8.88.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced 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 company had revenue of $5.55 million for the quarter, compared to analysts' expectations of $5.15 million. As a group, equities analysts forecast that Quantum Computing Inc. will post -0.18 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Wall Street Zen lowered shares of Quantum Computing from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. Cantor Fitzgerald reiterated a "neutral" rating and set a $10.00 price objective on shares of Quantum Computing in a research note on Tuesday, August 11th. Ascendiant Capital Markets increased their target price on shares of Quantum Computing from $30.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday. Rosenblatt Securities restated a "buy" rating and issued a $22.00 target price on shares of Quantum Computing in a research note on Monday, June 29th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Quantum Computing in a research note on Wednesday, June 24th. Four equities 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.67.
View Our Latest Analysis on QUBT
About Quantum Computing
(
Free Report)
Quantum Computing Inc NASDAQ: QUBT is a provider of quantum computing and quantum-inspired algorithm solutions, headquartered in the United States with research and development operations in Europe. Originally incorporated as Unigrid Software in 2019, the company rebranded in 2021 to reflect its strategic focus on commercializing emerging quantum technologies for enterprise and government customers.
The company's flagship product, Qatalyst, is a quantum-inspired optimization platform that applies advanced heuristic solvers to address complex combinatorial problems in logistics, supply chain management, finance and other data-intensive fields.
Further Reading
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