Quantum Computing (NASDAQ:QUBT) Trading Up 11% - Here's Why

Key Points

• Shares of Quantum Computing (QUBT) jumped about 11% to $8.07 on Tuesday with roughly 5.46 million shares traded (57% below average); the company has a market cap near $1.78 billion and a 50‑day SMA ($7.75) well below its 200‑day SMA ($11.56).
• Analyst coverage is mixed—three Buys, two Holds and one Sell—with a consensus rating of "Hold" and a $17 average price target, though several firms recently trimmed targets (e.g., Cantor Fitzgerald to $10).
• Quantum beat EPS estimates for the quarter (loss of $0.01 vs. est. -$0.04) but missed on revenue, and the CFO recently sold 68,902 shares; insiders still own 19.3% while institutions like Millennium Management significantly increased stakes.

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares were up 11% on Tuesday . The company traded as high as $7.96 and last traded at $8.0710. Approximately 5,456,007 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 12,749,120 shares. The stock had previously closed at $7.27.

Analyst Upgrades and Downgrades

QUBT has been the subject of a number of analyst reports. Cantor Fitzgerald dropped their price target on Quantum Computing from $15.00 to $10.00 and set a "neutral" rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings restated a "sell (d-)" rating on shares of Quantum Computing in a report on Friday, March 27th. Wedbush assumed coverage on Quantum Computing in a research note on Wednesday, December 17th. They issued a "neutral" rating and a $12.00 target price for the company. Ascendiant Capital Markets reduced their price target on Quantum Computing from $40.00 to $25.00 and set a "buy" rating on the stock in a report on Monday, December 22nd. Finally, Wall Street Zen cut shares of Quantum Computing from a "hold" rating to a "sell" rating in a research report on Saturday, March 7th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $17.00.

Quantum Computing Price Performance

The company has a market cap of $1.78 billion, a price-to-earnings ratio of -52.90 and a beta of 3.67. The firm has a 50 day simple moving average of $7.75 and a 200-day simple moving average of $11.56.

Quantum Computing (NASDAQ:QUBT - Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.03. The business had revenue of $0.20 million for the quarter, compared to analysts' expectations of $0.39 million.

Insider Buying and Selling at Quantum Computing

In related news, CFO Christopher Bruce Roberts sold 68,902 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $7.85, for a total transaction of $540,880.70. Following the completion of the transaction, the chief financial officer owned 1,132,398 shares of the company's stock, valued at approximately $8,889,324.30. This trade represents a 5.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 19.30% of the company's stock.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its stake in Quantum Computing by 57.1% during the 1st quarter. Royal Bank of Canada now owns 53,752 shares of the company's stock worth $430,000 after acquiring an additional 19,527 shares in the last quarter. Millennium Management LLC grew its position in Quantum Computing by 288.9% in the 1st quarter. Millennium Management LLC now owns 651,455 shares of the company's stock valued at $5,212,000 after acquiring an additional 483,940 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Quantum Computing by 0.7% during the first quarter. Goldman Sachs Group Inc. now owns 326,278 shares of the company's stock worth $2,610,000 after purchasing an additional 2,280 shares in the last quarter. Rhumbline Advisers acquired a new stake in shares of Quantum Computing during the first quarter worth about $28,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Quantum Computing by 12,826.8% in the second quarter. JPMorgan Chase & Co. now owns 54,551 shares of the company's stock valued at $1,046,000 after purchasing an additional 54,129 shares during the period. Hedge funds and other institutional investors own 4.26% of the company's stock.

Quantum Computing Company Profile

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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