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

Wall Street Zen upgraded shares of Quantum Computing (NASDAQ:QUBT - Free Report) from a strong sell rating to a hold rating in a research note published on Thursday.

Separately, Ascendiant Capital Markets upped their price target 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 Price Performance

Shares of QUBT stock traded up $1.24 during trading hours on Thursday, reaching $13.31. 88,569,143 shares of the company's stock were exchanged, compared to its average volume of 18,872,700. The company has a market cap of $1.88 billion, a P/E ratio of -45.90 and a beta of 3.74. The company's 50 day moving average is $7.94 and its two-hundred day moving average is $8.71. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $27.15.

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

Insider Buying and Selling

In related news, insider Yuping Huang sold 500,000 shares of the company'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 owns 21,236,906 shares in the company, valued at $248,471,800.20. This represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Javad Shabani sold 39,973 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $11.66, for a total value of $466,085.18. The disclosure for this sale can be found here. Insiders have sold a total of 739,973 shares of company stock worth $8,012,085 in the last quarter. Company insiders own 19.30% of the company's stock.

Institutional Investors Weigh In On Quantum Computing

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Quantum Computing by 24.0% during the 1st quarter. Vanguard Group Inc. now owns 5,191,404 shares of the company's stock valued at $41,531,000 after buying an additional 1,004,675 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in Quantum Computing during the 4th quarter valued at $69,613,000. Anson Funds Management LP acquired a new stake in Quantum Computing during the 4th quarter valued at $70,006,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Quantum Computing during the 1st quarter valued at $7,084,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Quantum Computing during the 4th quarter valued at $13,953,000. Institutional investors and hedge funds 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.