Cantor Fitzgerald initiated coverage on shares of Quantum Computing (NASDAQ:QUBT - Free Report) in a research report report published on Wednesday morning, MarketBeat.com reports. The firm issued a neutral rating and a $15.00 target price on the stock. Cantor Fitzgerald also issued estimates for Quantum Computing's FY2025 earnings at ($0.07) EPS and FY2026 earnings at ($0.27) EPS.
Other equities analysts have also issued reports about the stock. Ascendiant Capital Markets boosted their price objective on shares of Quantum Computing from $14.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Wall Street Zen upgraded shares of Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.
Check Out Our Latest Stock Analysis on Quantum Computing
Quantum Computing Stock Up 0.4%
Shares of QUBT stock traded up $0.09 during trading hours on Wednesday, hitting $20.74. 18,594,242 shares of the company's stock traded hands, compared to its average volume of 22,588,505. The stock's fifty day simple moving average is $13.49 and its two-hundred day simple moving average is $10.84. Quantum Computing has a 12-month low of $0.52 and a 12-month high of $27.15. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -43.21 and a beta of 3.96.
Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.18. The business had revenue of $0.04 million for the quarter, compared to analysts' expectations of $0.30 million.
Insider Activity
In related news, insider Yuping Huang sold 500,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $11.70, for a total value of $5,850,000.00. Following the completion of the transaction, the insider directly owned 21,236,906 shares in the company, valued at $248,471,800.20. The trade was a 2.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Javad Shabani sold 39,973 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.66, for a total transaction of $466,085.18. The disclosure for this sale can be found here. Insiders have sold 1,059,844 shares of company stock valued at $14,685,149 in the last quarter. Insiders own 19.30% of the company's stock.
Institutional Investors Weigh In On Quantum Computing
A number of hedge funds have recently added to or reduced their stakes in QUBT. Rhumbline Advisers purchased a new stake in Quantum Computing during the 1st quarter valued at $28,000. Tower Research Capital LLC TRC purchased a new stake in Quantum Computing during the 4th quarter valued at $30,000. Hollencrest Capital Management raised its stake in Quantum Computing by 60.0% during the 1st quarter. Hollencrest Capital Management now owns 4,000 shares of the company's stock valued at $32,000 after buying an additional 1,500 shares during the last quarter. IFP Advisors Inc purchased a new stake in Quantum Computing during the 4th quarter valued at $33,000. Finally, Farther Finance Advisors LLC purchased a new stake in Quantum Computing during the 4th quarter valued at $33,000. 4.26% of the stock is currently owned by hedge funds and other institutional investors.
About Quantum Computing
(
Get Free Report)
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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