Deutsche Bank AG bought a new position in Quantum Computing Inc. (NASDAQ:QUBT - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 208,776 shares of the company's stock, valued at approximately $2,025,000. Deutsche Bank AG owned 0.09% of Quantum Computing as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently bought and sold shares of QUBT. International Assets Investment Management LLC bought a new position in shares of Quantum Computing in the fourth quarter worth about $26,000. Rhumbline Advisers purchased a new position in shares of Quantum Computing during the 1st quarter valued at about $28,000. Tucker Asset Management LLC bought a new position in shares of Quantum Computing during the 4th quarter valued at approximately $29,000. State of Wyoming bought a new position in shares of Quantum Computing during the 2nd quarter valued at approximately $29,000. Finally, FWL Investment Management LLC purchased a new stake in Quantum Computing in the 2nd quarter worth approximately $33,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have commented on QUBT shares. 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 note on Wednesday. Rosenblatt Securities reissued a "buy" rating and issued a $22.00 price objective on shares of Quantum Computing in a research note on Monday, June 29th. Lake Street Capital restated a "buy" rating on shares of Quantum Computing in a research report on Monday, July 6th. Wall Street Zen cut shares of Quantum Computing from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Finally, Wedbush began coverage on shares of Quantum Computing in a research note on Monday, August 3rd. They set a "neutral" rating and a $12.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.67.
Read Our Latest Report on Quantum Computing
Quantum Computing Trading Down 5.8%
Shares of QUBT opened at $8.15 on Friday. The business's 50 day moving average is $8.67 and its 200 day moving average is $8.87. Quantum Computing Inc. has a 12-month low of $6.18 and a 12-month high of $25.84. The company has a market capitalization of $1.84 billion, a PE ratio of -116.41 and a beta of 3.74.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). The business had revenue of $5.55 million for the quarter, compared to analyst estimates of $5.15 million. Equities research analysts predict that Quantum Computing Inc. will post -0.18 earnings per share for the current year.
Quantum Computing Company Profile
(
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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