Quantum Computing Inc. (NASDAQ:QUBT) Receives $17.00 Consensus Target Price from Analysts

Shares of Quantum Computing Inc. (NASDAQ:QUBTGet Free Report) have been given a consensus rating of “Hold” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $18.00.

QUBT has been the topic of a number of analyst reports. Ascendiant Capital Markets dropped their price target on Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. Rosenblatt Securities began coverage on Quantum Computing in a research note on Thursday. They set a “buy” rating and a $22.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a report on Monday, December 29th. Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 22nd. Finally, Lake Street Capital reduced their price target on Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a report on Monday, November 17th.

Check Out Our Latest Stock Analysis on Quantum Computing

Quantum Computing Trading Down 2.6%

Shares of QUBT stock opened at $12.18 on Friday. The company’s fifty day moving average price is $11.57 and its 200-day moving average price is $15.39. The stock has a market cap of $2.73 billion, a PE ratio of -19.97 and a beta of 3.49. Quantum Computing has a 12 month low of $4.37 and a 12 month high of $25.84.

Quantum Computing (NASDAQ:QUBTGet Free Report) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The business had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $0.12 million.

Key Quantum Computing News

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

Insiders Place Their Bets

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total transaction of $33,891.00. Following the completion of the sale, the chief operating officer directly owned 24,240 shares in the company, valued at approximately $287,244. This trade represents a 10.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Quantum Computing

Institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new position in shares of Quantum Computing during the second quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Quantum Computing in the 2nd quarter worth approximately $29,000. Farther Finance Advisors LLC grew its position in 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 purchasing an additional 1,319 shares during the period. FWL Investment Management LLC purchased a new stake in Quantum Computing during the 2nd quarter valued at $33,000. Finally, New Millennium Group LLC bought a new position in shares of Quantum Computing during the 3rd quarter valued at $36,000. Institutional investors own 4.26% of the company’s stock.

About Quantum Computing

(Get Free Report)

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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Analyst Recommendations for Quantum Computing (NASDAQ:QUBT)

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