Quantum Computing (NASDAQ:QUBT) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Quantum Computing (NASDAQ:QUBT) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other analysts have also recently weighed in on the company. Cantor Fitzgerald restated a “neutral” rating and issued a $15.00 price target on shares of Quantum Computing in a research note on Thursday, December 18th. Rosenblatt Securities began coverage on Quantum Computing in a research report on Thursday, January 15th. They set a “buy” rating and a $22.00 target price on the stock. Ascendiant Capital Markets decreased their target price on Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. Wedbush started coverage on Quantum Computing in a report on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price target for the company. Finally, Lake Street Capital dropped their price target on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Quantum Computing Stock Up 20.7%

Shares of NASDAQ:QUBT opened at $9.43 on Friday. Quantum Computing has a fifty-two week low of $4.37 and a fifty-two week high of $25.84. The firm’s 50 day moving average price is $11.32 and its 200 day moving average price is $14.43. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -15.46 and a beta of 3.44.

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

Insiders Place Their Bets

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total transaction of $33,891.00. Following the transaction, the chief operating officer directly owned 24,240 shares of the company’s stock, valued at approximately $287,244. This trade represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 19.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Quantum Computing

Several institutional investors have recently modified their holdings of the company. Concurrent Investment Advisors LLC bought a new stake in shares of Quantum Computing in the 2nd quarter valued at approximately $1,003,000. Rollins Financial Advisors LLC acquired a new position in Quantum Computing in the second quarter worth $504,000. SLT Holdings LLC raised its holdings in shares of Quantum Computing by 111.5% during the second quarter. SLT Holdings LLC now owns 69,250 shares of the company’s stock worth $1,328,000 after purchasing an additional 36,500 shares during the period. Pacific Heights Asset Management LLC bought a new position in shares of Quantum Computing in the 2nd quarter worth about $7,668,000. Finally, Intech Investment Management LLC acquired a new stake in Quantum Computing during the second quarter worth about $1,169,000. 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.