Quantum Computing (NASDAQ:QUBT) Shares Gap Up - Should You Buy?

Key Points

• Gap up: Shares opened at $8.55 versus a $8.11 close and last traded around $8.99, rising about 14% on heavy volume (~9.12M shares).
• Analysts are mixed — the stock carries an average rating of "Hold" with an average target of $17, while recent reports include both price-target cuts and several buy/hold/sell opinions.
• Company fundamentals are modest: a $2.08B market cap and negative P/E (-62.03), quarterly EPS beat (‑$0.01 vs. ‑$0.04) on only $0.2M revenue, and notable insider activity (CFO sold shares; insiders own 19.3%).

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.11, but opened at $8.55. Quantum Computing shares last traded at $8.9930, with a volume of 9,123,577 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on QUBT shares. Ascendiant Capital Markets cut their price objective on shares of Quantum Computing from $40.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, December 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Quantum Computing in a report on Friday, March 27th. Rosenblatt Securities reissued a "buy" rating and set a $22.00 price objective on shares of Quantum Computing in a report on Tuesday, March 3rd. Wall Street Zen lowered shares of Quantum Computing from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Finally, Cantor Fitzgerald cut their price objective on shares of Quantum Computing from $15.00 to $10.00 and set a "neutral" rating on the stock in a report on Tuesday, March 3rd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.00.

Quantum Computing Stock Up 14.0%

The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -62.03 and a beta of 3.67. The company's 50 day simple moving average is $7.72 and its two-hundred day simple moving average is $11.48.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. The firm had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.39 million.

Insiders Place Their Bets

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 9,360 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total value of $73,476.00. Following the completion of the sale, the chief financial officer directly owned 1,123,038 shares in the company, valued at $8,815,848.30. This trade represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors have recently bought and sold shares of QUBT. Aventura Private Wealth LLC acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC boosted its stake in Quantum Computing by 724.7% in the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company's stock valued at $28,000 after acquiring an additional 1,319 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Quantum Computing during the first quarter worth $28,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of Quantum Computing during the fourth quarter worth $29,000. 4.26% of the stock is currently owned by institutional investors and hedge funds.

Quantum Computing Company Profile

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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