Quantum Computing (NASDAQ:QUBT) Given New $14.00 Price Target at Ascendiant Capital Markets

Quantum Computing (NASDAQ:QUBT - Free Report) had its target price boosted by Ascendiant Capital Markets from $8.50 to $14.00 in a research note issued to investors on Monday morning,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

Quantum Computing Stock Up 4.2 %

QUBT traded up $0.28 on Monday, reaching $7.02. The company had a trading volume of 5,970,139 shares, compared to its average volume of 16,877,525. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $27.15. The stock has a market capitalization of $963.46 million, a PE ratio of -24.21 and a beta of 3.00. The stock has a 50-day moving average price of $6.75 and a 200-day moving average price of $7.65.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.42). The business had revenue of $0.06 million for the quarter, compared to the consensus estimate of $0.20 million. During the same period in the previous year, the company earned ($0.09) EPS.

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, insider Yuping Huang sold 200,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.48, for a total value of $1,696,000.00. Following the completion of the transaction, the insider now owns 24,051,256 shares in the company, valued at $203,954,650.88. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 31.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quantum Computing

Several hedge funds have recently made changes to their positions in the business. Rhumbline Advisers purchased a new position in shares of Quantum Computing during the first quarter worth about $28,000. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing in the fourth quarter valued at about $30,000. Archer Investment Corp acquired a new stake in shares of Quantum Computing during the 4th quarter valued at approximately $33,000. IFP Advisors Inc acquired a new stake in shares of Quantum Computing during the 4th quarter valued at approximately $33,000. Finally, Farther Finance Advisors LLC acquired a new stake in shares of Quantum Computing during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 4.26% of the company's stock.

Quantum Computing Company Profile

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.