Quantum Computing (NASDAQ:QUBT) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Quantum Computing (NASDAQ:QUBT) from a "strong sell" to a "hold"; the stock's consensus rating is currently Hold with a consensus price target of $23.67 and analyst views ranging from Buy to Sell.
• CEO Yuping Huang sold 1,000,000 shares at an average price of $14.41 (≈$14.41M); insiders have sold about 1,154,649 shares worth $16.8M in the last 90 days, while insiders still own 19.3% of the company.
• Shares opened at $10.18, trade in a 52-week range of $4.37–$27.15, and the company has a market cap of $2.28 billion, a negative PE ratio and a high beta (3.82), indicating elevated volatility.

Quantum Computing (NASDAQ:QUBT - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a report released on Saturday.

A number of other research firms have also weighed in on QUBT. Ascendiant Capital Markets increased their price objective on shares of Quantum Computing from $22.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Quantum Computing in a research note on Wednesday. Finally, Lake Street Capital reduced their price target on Quantum Computing from $24.00 to $16.00 and set a "buy" rating on the stock in a report on Monday. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $23.67.

Quantum Computing Stock Down 0.9%

Shares of QUBT opened at $10.18 on Friday. The business has a fifty day moving average of $16.87 and a 200 day moving average of $15.93. The company has a market cap of $2.28 billion, a PE ratio of -14.97 and a beta of 3.82. Quantum Computing has a 52-week low of $4.37 and a 52-week high of $27.15.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last posted its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.05). The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.12 million.

Insider Transactions at Quantum Computing

In related news, CEO Yuping Huang sold 1,000,000 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $14.41, for a total value of $14,410,000.00. Following the completion of the sale, the chief executive officer directly owned 21,287,718 shares of the company's stock, valued at $306,756,016.38. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert B. Fagenson sold 5,000 shares of the firm's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $16.88, for a total transaction of $84,400.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,154,649 shares of company stock valued at $16,805,481 over the last 90 days. 19.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quantum Computing

Institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC purchased a new stake in Quantum Computing during the second quarter worth $28,000. Farther Finance Advisors LLC raised its position in shares of Quantum Computing by 724.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company's stock worth $28,000 after acquiring an additional 1,319 shares in the last quarter. Rhumbline Advisers bought a new position in shares of Quantum Computing in the 1st quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Quantum Computing during the 2nd quarter worth $29,000. Finally, FWL Investment Management LLC bought a new stake in Quantum Computing during the second quarter valued at about $33,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

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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