Quantum Computing (NASDAQ:QUBT) Downgraded to Strong Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Quantum Computing to “strong sell” from “sell,” despite other analysts maintaining bullish ratings. The stock’s consensus rating remains “Hold,” with an average price target of $18.33.
• Quantum Computing shares opened at $9.01, with a $2.04 billion market capitalization and a 52-week range of $6.18 to $25.84. The company reported a quarterly loss of $0.05 per share, missing estimates by $0.02, while revenue of $5.55 million exceeded forecasts.
• Institutional investors have increased exposure to QUBT, including new positions by BlackRock and Alyeska Investment Group and larger stakes from Vanguard, Marex Group and Geode Capital. Institutions and hedge funds collectively own 4.26% of the company.

Quantum Computing (NASDAQ:QUBT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued to investors on Saturday.

A number of other research firms have also recently issued reports on QUBT. Cantor Fitzgerald reiterated a "neutral" rating and issued a $10.00 target price on shares of Quantum Computing in a research note on Tuesday. Northland Securities assumed coverage on shares of Quantum Computing in a research report on Monday, April 20th. They set an "outperform" rating and a $20.00 price target for the company. Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Lake Street Capital reiterated a "buy" rating on shares of Quantum Computing in a research report on Monday, July 6th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Quantum Computing in a research note on Wednesday, June 24th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Quantum Computing has a consensus rating of "Hold" and an average price target of $18.33.

Quantum Computing Trading Up 1.0%

Shares of Quantum Computing stock opened at $9.01 on Friday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -128.70 and a beta of 3.74. Quantum Computing has a twelve month low of $6.18 and a twelve month high of $25.84. The business's 50 day simple moving average is $9.01 and its 200-day simple moving average is $8.96.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released 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 company had revenue of $5.55 million during the quarter, compared to analyst estimates of $5.15 million. Sell-side analysts predict that Quantum Computing will post -0.18 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in QUBT. BlackRock Inc. bought a new position in shares of Quantum Computing in the second quarter worth $172,020,000. Vanguard Group Inc. raised its stake in shares of Quantum Computing by 38.1% during the fourth quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company's stock valued at $172,793,000 after purchasing an additional 4,643,818 shares in the last quarter. Marex Group plc raised its stake in shares of Quantum Computing by 255.6% during the fourth quarter. Marex Group plc now owns 8,272,153 shares of the company's stock valued at $84,872,000 after purchasing an additional 5,945,679 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Quantum Computing during the third quarter valued at about $123,014,000. Finally, Geode Capital Management LLC lifted its holdings in Quantum Computing by 45.5% in the fourth quarter. Geode Capital Management LLC now owns 4,565,192 shares of the company's stock worth $46,846,000 after purchasing an additional 1,428,120 shares during the period. Institutional investors and hedge funds own 4.26% of the company's stock.

About Quantum Computing

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.

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