Quantum Computing (NASDAQ:QUBT) Trading Down 8.8% - Here's What Happened

Key Points

• Quantum Computing Inc. (NASDAQ: QUBT) fell 8.8% on Tuesday, trading as low as $9.99 after closing at $11.10 the prior session. Volume was slightly below average at 16.4 million shares.
• The decline appears to be part of a broad selloff in quantum computing stocks, with peers like IonQ, Rigetti, and D-Wave also moving lower as Monday’s rally reversed.
• Despite the stock drop, analyst sentiment remains relatively upbeat overall: several firms still rate QUBT a Buy, and Ascendiant Capital Markets recently raised its price target to $30 from $27.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) fell 8.8% on Tuesday . The company traded as low as $9.99 and last traded at $10.12. 16,436,744 shares were traded during trading, a decline of 6% from the average session volume of 17,414,486 shares. The stock had previously closed at $11.10.

Quantum Computing News Roundup

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

• Positive Sentiment: Analysts remain bullish on Quantum Computing Inc., with coverage cited in multiple reports showing 4 Buy ratings and 1 Hold, plus price targets suggesting significant upside. Quantum Computing (QUBT) is One of the Best Computer Hardware Stocks to Buy for Next 5 Years, Here is Why
• Positive Sentiment: Ascendiant Capital Markets raised its price target on QUBT to $30 from $27 and reiterated a Buy rating, reinforcing expectations for substantial long-term upside. Benzinga report on Ascendiant price target raise
• Positive Sentiment: Earlier coverage pointed to upcoming product launches and growing commercial adoption as catalysts that could support future revenue growth. Quantum Computing stock jumps as analysts see product catalysts
• Neutral Sentiment: The current decline appears tied to a broad selloff across quantum computing stocks, with IonQ, Rigetti, and D-Wave also moving lower as Monday’s rally reversed. IonQ, Rigetti, D-Wave, and Quantum Computing Inc. All Fall 5% to 7% as the Quantum Rally Reverses
• Neutral Sentiment: Recent commentary also highlighted QUBT as a speculative long-term hardware name, but this is more of an investment thesis than a near-term catalyst. Is QUBT the Best Quantum Stock to Buy in June With 80% Price Upside?

Wall Street Analyst Weigh In

A number of research firms have weighed in on QUBT. Weiss Ratings reiterated a "sell (d-)" rating on shares of Quantum Computing in a research note on Friday, March 27th. Northland Securities started coverage on Quantum Computing in a research note on Monday, April 20th. They issued an "outperform" rating and a $20.00 price target for the company. Rosenblatt Securities restated a "buy" rating and issued a $22.00 price target on shares of Quantum Computing in a research note on Tuesday, March 3rd. Ascendiant Capital Markets lifted their price target on Quantum Computing from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Monday. Finally, Wall Street Zen lowered Quantum Computing from a "hold" rating to a "sell" rating in a research note on Saturday. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $18.33.

Quantum Computing Stock Performance

The company has a 50 day moving average of $9.82 and a two-hundred day moving average of $9.82. The stock has a market cap of $2.28 billion, a PE ratio of -36.07 and a beta of 3.72.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $3.69 million during the quarter, compared to analysts' expectations of $3.13 million. As a group, equities research analysts anticipate that Quantum Computing Inc. will post -0.14 EPS for the current year.

Institutional Investors Weigh In On Quantum Computing

Several large investors have recently bought and sold shares of QUBT. Vanguard Group Inc. boosted its holdings in shares of Quantum Computing by 38.1% during the 4th quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company's stock worth $172,793,000 after purchasing an additional 4,643,818 shares during the last quarter. SLT Holdings LLC boosted its holdings in shares of Quantum Computing by 1,028.7% during the 4th quarter. SLT Holdings LLC now owns 169,300 shares of the company's stock worth $1,737,000 after purchasing an additional 154,300 shares during the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Quantum Computing during the 3rd quarter worth approximately $74,194,000. JPMorgan Chase & Co. boosted its holdings in shares of Quantum Computing by 1,612.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 933,925 shares of the company's stock worth $17,194,000 after purchasing an additional 879,374 shares during the last quarter. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Quantum Computing by 72.3% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 2,686,727 shares of the company's stock worth $48,643,000 after purchasing an additional 1,127,427 shares during the last quarter. 4.26% of the stock is currently owned by hedge funds and other institutional investors.

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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