Quantum Computing (NASDAQ:QUBT) Shares Gap Up – What’s Next?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) gapped up before the market opened on Thursday . The stock had previously closed at $9.56, but opened at $10.47. Quantum Computing shares last traded at $11.0890, with a volume of 16,367,530 shares traded.

Wall Street Analysts Forecast Growth

QUBT has been the subject of several research reports. Wall Street Zen upgraded shares of Quantum Computing from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Cantor Fitzgerald decreased their price objective on shares of Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $22.00 price objective on shares of Quantum Computing in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a research note on Friday, March 27th. Finally, Northland Securities began coverage on shares of Quantum Computing in a research note on Monday, April 20th. They issued an “outperform” rating and a $20.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Quantum Computing currently has an average rating of “Hold” and an average target price of $17.50.

Quantum Computing Stock Up 17.2%

The business’s 50 day moving average is $8.38 and its 200-day moving average is $9.97. The firm has a market capitalization of $2.53 billion, a P/E ratio of -40.18 and a beta of 3.70.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $3.69 million during the quarter, compared to the consensus estimate of $3.13 million. Research analysts forecast that Quantum Computing Inc. will post -0.14 EPS for the current fiscal year.

Insider Buying and Selling at Quantum Computing

In other Quantum Computing news, CFO Christopher Bruce Roberts sold 9,360 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $7.85, for a total transaction of $73,476.00. Following the sale, the chief financial officer owned 1,123,038 shares of the company’s stock, valued at approximately $8,815,848.30. The trade was a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 19.30% of the company’s stock.

Institutional Trading of Quantum Computing

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aventura Private Wealth LLC bought a new stake in shares of Quantum Computing during the fourth quarter worth $26,000. International Assets Investment Management LLC bought a new stake in shares of Quantum Computing during the fourth quarter worth $26,000. Rhumbline Advisers bought a new stake in shares of Quantum Computing during the first quarter worth $28,000. Tucker Asset Management LLC bought a new stake in shares of Quantum Computing during the fourth quarter worth $29,000. Finally, Toth Financial Advisory Corp grew its stake in shares of Quantum Computing by 50.0% during the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock worth $31,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 4.26% of the company’s stock.

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.