Quantum Computing (NASDAQ:QUBT) Upgraded to Strong-Buy at Rosenblatt Securities

Quantum Computing (NASDAQ:QUBT) was upgraded by equities research analysts at Rosenblatt Securities to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other equities research analysts also recently commented on QUBT. Wedbush began coverage on shares of Quantum Computing in a research note on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price objective for the company. Wall Street Zen raised Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Saturday, November 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $15.00 price objective on shares of Quantum Computing in a research note on Thursday, December 18th. Lake Street Capital dropped their target price on Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday, November 17th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $18.00.

Quantum Computing Stock Performance

Shares of QUBT stock opened at $12.18 on Wednesday. Quantum Computing has a fifty-two week low of $4.37 and a fifty-two week high of $25.84. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -19.97 and a beta of 3.49. The stock’s 50-day simple moving average is $11.57 and its 200-day simple moving average is $15.39.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.05) EPS for the quarter, meeting the consensus estimate of ($0.05). The company had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $0.12 million.

Insider Activity at Quantum Computing

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total value of $33,891.00. Following the completion of the transaction, the chief operating officer directly owned 24,240 shares of the company’s stock, valued at approximately $287,244. The trade was a 10.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 19.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Quantum Computing

Several institutional investors have recently made changes to their positions in QUBT. Aventura Private Wealth LLC purchased a new stake in Quantum Computing during the fourth quarter worth $26,000. Nisa Investment Advisors LLC purchased a new position in Quantum Computing in the second quarter valued at $28,000. Farther Finance Advisors LLC raised its position in shares of Quantum Computing by 724.7% in the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock worth $28,000 after acquiring an additional 1,319 shares during the period. Rhumbline Advisers purchased a new stake in shares of Quantum Computing during the 1st quarter worth about $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Quantum Computing during the 2nd quarter valued at about $29,000. 4.26% of the stock is owned by hedge funds and other institutional investors.

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.