Quantum Computing (NASDAQ:QUBT) Rating Increased to Hold at Wall Street Zen

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

Separately, Ascendiant Capital Markets increased their target price on Quantum Computing from $8.50 to $14.00 and gave the stock a "buy" rating in a report on Monday, April 28th.

Quantum Computing Stock Up 9.4%

QUBT traded up $0.99 during midday trading on Thursday, hitting $11.53. The company had a trading volume of 19,220,999 shares, compared to its average volume of 18,283,501. The stock's 50 day moving average price is $7.76 and its 200 day moving average price is $8.45. Quantum Computing has a 52 week low of $0.35 and a 52 week high of $27.15. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -40.17 and a beta of 3.74.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its earnings results on Thursday, March 20th. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.42). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $0.20 million. During the same period last year, the firm earned ($0.09) earnings per share.

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, Director Javad Shabani sold 39,973 shares of Quantum Computing stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $11.66, for a total transaction of $466,085.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yuping Huang sold 500,000 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.70, for a total value of $5,850,000.00. Following the sale, the insider now directly owns 21,236,906 shares of the company's stock, valued at $248,471,800.20. This represents a 2.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 739,973 shares of company stock valued at $8,012,085. Corporate insiders own 19.30% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Hollencrest Capital Management increased its stake in Quantum Computing by 60.0% in 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. Tower Research Capital LLC TRC bought a new stake in Quantum Computing during the 4th quarter valued at $30,000. IFP Advisors Inc purchased a new stake in Quantum Computing during the 4th quarter worth about $33,000. Farther Finance Advisors LLC purchased a new stake in shares of Quantum Computing in the fourth quarter worth about $33,000. Finally, Archer Investment Corp purchased a new stake in Quantum Computing in the 4th quarter worth approximately $33,000. 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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