Quantum Computing (NASDAQ:QUBT) Trading Down 4.5% - What's Next?

Key Points

• Quantum Computing Inc. (NASDAQ:QUBT) experienced a 4.5% stock price drop on Thursday, closing at $15.28 after trading as low as $15.36.
• The company's market capitalization is $2.40 billion, with a PE ratio of -31.24 reflecting ongoing operational challenges.
• Recent analyst ratings show mixed reviews, with Cantor Fitzgerald issuing a "neutral" rating and a $15.00 target, while Ascendiant Capital Markets has increased its price target to $22.00 and given a "buy" rating.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report)'s stock price dropped 4.5% on Thursday . The stock traded as low as $15.36 and last traded at $15.28. Approximately 5,166,909 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 24,263,904 shares. The stock had previously closed at $16.01.

Analyst Ratings Changes

QUBT has been the topic of several analyst reports. Cantor Fitzgerald started coverage on shares of Quantum Computing in a report on Wednesday, July 2nd. They issued a "neutral" rating and a $15.00 target price on the stock. Wall Street Zen raised Quantum Computing from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Ascendiant Capital Markets lifted their price target on Quantum Computing from $14.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, June 6th.

Quantum Computing Stock Performance

The firm has a market capitalization of $2.40 billion, a PE ratio of -31.24 and a beta of 4.09. The firm's 50-day moving average is $17.45 and its 200 day moving average is $11.38.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.18. The company had revenue of $0.04 million during the quarter, compared to analysts' expectations of $0.30 million.

Insider Activity

In other news, Director Javad Shabani sold 39,973 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $11.66, for a total value of $466,085.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael C. Turmelle sold 200,986 shares of Quantum Computing stock in a transaction on Monday, June 9th. The stock was sold at an average price of $14.18, for a total transaction of $2,849,981.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,059,844 shares of company stock worth $14,685,149. 19.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors have recently made changes to their positions in QUBT. Nisa Investment Advisors LLC bought a new position in Quantum Computing during the 2nd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Quantum Computing during the 2nd quarter valued at $29,000. Tower Research Capital LLC TRC acquired a new stake in Quantum Computing in the fourth quarter valued at approximately $30,000. Allworth Financial LP acquired a new stake in shares of Quantum Computing in the second quarter worth about $42,000. Finally, Compagnie Lombard Odier SCmA lifted its stake in shares of Quantum Computing by 53.5% in the second quarter. Compagnie Lombard Odier SCmA now owns 2,870 shares of the company's stock worth $55,000 after buying an additional 1,000 shares during the last quarter. 4.26% of the stock is currently owned by institutional investors.

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.

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