Quantum Computing Inc. (NASDAQ:QUBT) Receives $18.00 Consensus Target Price from Brokerages

Quantum Computing Inc. (NASDAQ:QUBT) has received an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $17.00.

QUBT has been the subject of several recent analyst reports. Ascendiant Capital Markets dropped their target price on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Lake Street Capital decreased their price target on Quantum Computing from $24.00 to $16.00 and set a “buy” rating on the stock in a report on Monday, November 17th. Cantor Fitzgerald lowered their price objective on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Wedbush initiated coverage on Quantum Computing in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price objective for the company. Finally, Wall Street Zen downgraded Quantum Computing from a “hold” rating to a “sell” rating in a research note on Saturday.

Insider Transactions at Quantum Computing

In other Quantum Computing news, COO Milan Begliarbekov sold 2,860 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 24,240 shares of the company’s stock, valued at $287,244. This trade represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 19.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Quantum Computing

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. purchased a new position in Quantum Computing during the third quarter valued at $123,014,000. Marex Group plc lifted its stake in Quantum Computing by 255.6% in the 4th quarter. Marex Group plc now owns 8,272,153 shares of the company’s stock worth $84,872,000 after purchasing an additional 5,945,679 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Quantum Computing by 38.1% during the 4th quarter. Vanguard Group Inc. now owns 16,841,423 shares of the company’s stock valued at $172,793,000 after purchasing an additional 4,643,818 shares during the last quarter. Ghisallo Capital Management LLC purchased a new position in shares of Quantum Computing during the third quarter valued at about $74,194,000. Finally, Defiance ETFs LLC purchased a new position in shares of Quantum Computing during the fourth quarter valued at about $33,071,000. Institutional investors own 4.26% of the company’s stock.

Quantum Computing Price Performance

Shares of NASDAQ:QUBT opened at $7.60 on Monday. Quantum Computing has a 1-year low of $4.37 and a 1-year high of $25.84. The company has a market capitalization of $1.71 billion, a P/E ratio of -50.67 and a beta of 3.51. The firm’s 50 day simple moving average is $9.95 and its two-hundred day simple moving average is $13.36.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Monday, March 2nd. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The firm had revenue of $0.20 million during the quarter, compared to analysts’ expectations of $0.39 million.

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.