Quantum Computing (NASDAQ:QUBT) Sets New 1-Year Low - Time to Sell?

Key Points

• Quantum Computing shares fell to a new 52-week low of $5.39, below the prior close of $5.82; the stock’s 50-day and 200-day moving averages were $7.41 and $8.51, respectively.
• Analyst views are mixed: MarketBeat reports an average “Hold” rating and an average price target of $18.67, while individual ratings range from Buy to Sell.
• The latest quarter showed a loss of $0.07 per share, missing the $0.04 loss analysts expected, though revenue of $9.5 million exceeded estimates of $7.61 million.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $5.39 and last traded at $5.4550, with a volume of 2,377,597 shares. The stock had previously closed at $5.82.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on QUBT shares. Ascendiant Capital Markets upped their target price on shares of Quantum Computing from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Wednesday, August 26th. Weiss Ratings reissued a "sell (d-)" rating on shares of Quantum Computing in a research note on Monday, September 21st. Cantor Fitzgerald restated a "neutral" rating and set a $10.00 price target on shares of Quantum Computing in a research report on Tuesday, August 11th. Rosenblatt Securities restated a "buy" rating and set a $22.00 price target on shares of Quantum Computing in a research report on Monday, October 19th. Finally, Wall Street Zen raised shares of Quantum Computing from a "strong sell" rating to a "sell" rating in a research note on Saturday, October 31st. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Quantum Computing currently has an average rating of "Hold" and an average price target of $18.67.

Quantum Computing Price Performance

The firm has a 50 day simple moving average of $7.41 and a 200-day simple moving average of $8.51. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -36.63 and a beta of 3.95.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings results on Monday, November 9th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $9.50 million during the quarter, compared to analyst estimates of $7.61 million. During the same quarter in the previous year, the business posted $0.01 earnings per share. Research analysts anticipate that Quantum Computing Inc. will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Focus Financial Network Inc. lifted its holdings in shares of Quantum Computing by 402.6% in the 2nd quarter. Focus Financial Network Inc. now owns 911,635 shares of the company's stock worth $8,843,000 after acquiring an additional 730,240 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Quantum Computing during the 2nd quarter worth approximately $3,762,000. BlackRock Inc. acquired a new stake in Quantum Computing in the 2nd quarter valued at approximately $172,020,000. Corient Private Wealth LP acquired a new stake in Quantum Computing in the 2nd quarter valued at approximately $1,286,000. Finally, Deutsche Bank AG acquired a new stake in Quantum Computing in the 2nd quarter valued at approximately $2,025,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

About Quantum Computing

Quantum Computing Inc. (QCi) develops quantum computing hardware and software, with a focus on photonics and systems designed to operate at room temperature. The company aims to make quantum technology more accessible for commercial and research applications. Its offerings include the Dirac quantum computing systems and software for optimization problems. QCi also develops photonic technologies for applications such as quantum sensing and cybersecurity. The company serves customers and organizations pursuing quantum computing and related technologies.

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