Quantum Computing Inc. (NASDAQ:QUBT) Receives Average Recommendation of “Hold” from Analysts

Shares of Quantum Computing Inc. (NASDAQ:QUBT) have earned a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $18.3333.

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research report on Wednesday, June 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $22.00 price target on shares of Quantum Computing in a research note on Monday, June 29th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $10.00 price objective on shares of Quantum Computing in a report on Wednesday, June 24th. Finally, Northland Securities started coverage on Quantum Computing in a research report on Monday, April 20th. They set an “outperform” rating and a $20.00 price objective on the stock.

Key Headlines Impacting Quantum Computing

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

• Positive Sentiment: Quantum Computing Inc. acquired NHanced Semiconductors and signed a NeuraWave AI deployment deal, both of which broaden its technology portfolio and strengthen its growth narrative. Quantum Computing (QUBT) Acquires NHanced And Lands NeuraWave AI Deployment Deal
• Positive Sentiment: QUBT landed new commercial agreements, including a purchase order and framework deal with Planck Dynamics, which may improve investor confidence in revenue conversion. Quantum Computing (QUBT) Lands New Deals, Is The Stock Still Undervalued?
• Positive Sentiment: Analyst coverage highlighted potential upside, with some reports citing roughly 111% upside from recent levels after Microsoft’s quantum-security warning increased attention on post-quantum cybersecurity. This $8 quantum stock has 111% upside after Microsoft’s warning

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Aventura Private Wealth LLC bought a new stake in shares of Quantum Computing in the 4th quarter worth approximately $26,000. International Assets Investment Management LLC bought a new position in shares of Quantum Computing during the 4th quarter valued at $26,000. Rhumbline Advisers purchased a new position in Quantum Computing in the 1st quarter worth $28,000. Tucker Asset Management LLC purchased a new position in Quantum Computing in the 4th quarter worth $29,000. Finally, Toth Financial Advisory Corp lifted its stake in Quantum Computing by 50.0% in the fourth quarter. Toth Financial Advisory Corp now owns 3,000 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares during the last quarter. 4.26% of the stock is currently owned by institutional investors.

Quantum Computing Price Performance

Shares of QUBT opened at $9.15 on Friday. The firm’s 50 day simple moving average is $10.29 and its 200 day simple moving average is $9.55. The company has a market capitalization of $2.06 billion, a P/E ratio of -32.68 and a beta of 3.78. Quantum Computing has a 1-year low of $6.18 and a 1-year high of $25.84.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Monday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The company had revenue of $3.69 million for the quarter, compared to the consensus estimate of $3.13 million. On average, equities analysts anticipate that Quantum Computing will post -0.14 earnings per share for the current year.

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.