Quantum Computing (NASDAQ:QUBT) Given Sell (E+) Rating at Weiss Ratings

Key Points

• Quantum Computing's stock has been given a notable “sell (E+)” rating by Weiss Ratings, amidst recent downgrades from multiple analysts.
• The stock is currently trading at $20.82, with a market capitalization of $3.89 billion, and has seen a 5.4% decline recently.
• Insider trading activities include significant sales, with CEO Yuping Huang selling 1,000,000 shares, representing a 4.49% decrease in his position in the company.

Quantum Computing (NASDAQ:QUBT - Get Free Report)'s stock had its "sell (e+)" rating reissued by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Quantum Computing from a "hold" rating to a "strong sell" rating in a report on Saturday, August 16th. Lake Street Capital began coverage on shares of Quantum Computing in a research report on Thursday, September 18th. They issued a "buy" rating and a $24.00 target price for the company. Cantor Fitzgerald began coverage on shares of Quantum Computing in a research report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price for the company. Finally, Ascendiant Capital Markets upped their target price on shares of Quantum Computing from $22.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $26.33.

Quantum Computing Trading Down 5.4%

NASDAQ:QUBT opened at $20.82 on Wednesday. The stock has a market capitalization of $3.89 billion, a PE ratio of -30.62 and a beta of 3.85. The firm's 50 day moving average is $17.21 and its 200 day moving average is $14.12. Quantum Computing has a 12 month low of $0.65 and a 12 month high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.06). The business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.10 million.

Insider Activity

In other news, Director Robert B. Fagenson sold 5,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $16.88, for a total transaction of $84,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Yuping Huang sold 1,000,000 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $14.41, for a total transaction of $14,410,000.00. Following the completion of the sale, the chief executive officer owned 21,287,718 shares in the company, valued at $306,756,016.38. This represents a 4.49% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,154,649 shares of company stock worth $16,805,481. Corporate insiders own 19.30% of the company's stock.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Quantum Computing by 24.0% in the first quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock worth $41,531,000 after purchasing an additional 1,004,675 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Quantum Computing by 116.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,630,525 shares of the company's stock worth $50,433,000 after acquiring an additional 1,416,928 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of Quantum Computing during the 2nd quarter worth $19,543,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Quantum Computing by 13.0% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,000,144 shares of the company's stock worth $19,146,000 after acquiring an additional 115,284 shares during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Quantum Computing during the 2nd quarter valued at $16,035,000. Hedge funds and other institutional investors own 4.26% of the company's stock.

About Quantum Computing

Quantum Computing Inc, an integrated photonics company, offers accessible and affordable quantum machines. The company offers Dirac systems are portable, low power, and room temperature qubit and qudit entropy quantum computers (EQC); reservoir computing; remote sensing; and single photon imaging. It also provides Quantum random number generator (uQRNG), a portable device that provides genuine random numbers directly from quantum processes; and quantum authentication which eliminates vulnerabilities inherent in classical cryptographic schemes by offering a comprehensive entanglement-based quantum cyber solution that seamlessly integrates into existing telecom fiber and communication infrastructure.

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