Quantum Computing (NASDAQ:QUBT) Trading 9.2% Higher - What's Next?

Key Points

• QUBT shares jumped 9.2% on the day, with trading volume slightly above average as investors reacted to recent positive momentum in the stock.
• Northland Securities raised its earnings estimates and reiterated an Outperform rating with a $20 price target, while broader analyst data still shows a consensus Hold and target price of $17.50.
• The company’s latest earnings beat expectations, reporting a smaller-than-expected loss and revenue of $3.69 million, but commentary notes the stock may be pausing after a strong post-earnings surge as traders take profits.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares traded up 9.2% on Thursday . The company traded as high as $12.21 and last traded at $12.0480. 16,369,520 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 15,636,233 shares. The stock had previously closed at $11.03.

Quantum Computing News Summary

Here are the key news stories impacting Quantum Computing this week:

• Positive Sentiment: Northland Securities raised its earnings estimates for Quantum Computing Inc. and reiterated an Outperform rating with a $20 price target, signaling improved confidence in the company’s outlook.
• Positive Sentiment: Analyst target data highlighted by Zacks and Yahoo Finance suggests about 61.7% upside for QUBT, which is helping support bullish sentiment around the stock.
• Positive Sentiment: Recent coverage continues to focus on Quantum Computing’s massive revenue surge and operational progress, including acquisitions and Fab 2 plans, reinforcing the view that the business is scaling faster than expected.
• Neutral Sentiment: Several articles note that the stock is pausing after a strong post-earnings surge, with traders digesting the move and some profit-taking occurring after the recent run-up.
• Neutral Sentiment: Some commentary remains cautious, saying the company still has a lot to prove despite the revenue growth, which could limit how far the rally extends near term.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Northland Securities assumed coverage on Quantum Computing in a research report on Monday, April 20th. They issued an "outperform" rating and a $20.00 target price for the company. Wall Street Zen cut Quantum Computing from a "hold" rating to a "sell" rating in a report on Saturday, March 7th. Cantor Fitzgerald reduced their price objective on Quantum Computing from $15.00 to $10.00 and set a "neutral" rating for the company in a research note on Tuesday, March 3rd. Rosenblatt Securities reissued a "buy" rating and set a $22.00 price objective on shares of Quantum Computing in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Quantum Computing in a research note on Friday, March 27th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $17.50.

Quantum Computing Stock Performance

The firm's 50 day simple moving average is $8.14 and its 200-day simple moving average is $10.15. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of -42.19 and a beta of 3.70.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The firm had revenue of $3.69 million for the quarter, compared to analyst estimates of $3.13 million. As a group, equities analysts anticipate that Quantum Computing Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Transactions at Quantum Computing

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 9,360 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total transaction of $73,476.00. Following the sale, the chief financial officer directly owned 1,123,038 shares of the company's stock, valued at $8,815,848.30. The trade was a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 19.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Quantum Computing

A number of hedge funds have recently modified their holdings of QUBT. Vanguard Group Inc. boosted its holdings in Quantum Computing by 38.1% during the fourth quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company's stock valued at $172,793,000 after acquiring an additional 4,643,818 shares during the period. Ghisallo Capital Management LLC bought a new stake in Quantum Computing during the third quarter valued at about $74,194,000. JPMorgan Chase & Co. boosted its holdings in Quantum Computing by 1,612.0% during the third quarter. JPMorgan Chase & Co. now owns 933,925 shares of the company's stock valued at $17,194,000 after acquiring an additional 879,374 shares during the period. Polar Asset Management Partners Inc. boosted its holdings in Quantum Computing by 72.3% during the third quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company's stock valued at $48,643,000 after acquiring an additional 1,127,427 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in Quantum Computing during the third quarter valued at about $5,439,000. 4.26% of the stock is owned by institutional investors and hedge funds.

About Quantum Computing

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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