Wall Street Zen cut shares of Quantum Computing (NASDAQ:QUBT – Free Report) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.
Several other equities research analysts have also recently weighed in on the company. Ascendiant Capital Markets upped their price target on Quantum Computing from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, August 26th. Rosenblatt Securities reissued a “buy” rating and issued a $22.00 price target on shares of Quantum Computing in a report on Monday, June 29th. Weiss Ratings restated a “sell (d-)” rating on shares of Quantum Computing in a research report on Monday, September 21st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $10.00 price objective on shares of Quantum Computing in a research note on Tuesday, August 11th. Finally, Wedbush assumed coverage on shares of Quantum Computing in a report on Monday, August 3rd. They set a “neutral” rating and a $12.00 target price on the stock. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $18.67.
View Our Latest Report on QUBT
Quantum Computing Stock Performance
Shares of NASDAQ QUBT opened at $6.36 on Friday. The stock has a market cap of $1.44 billion, a PE ratio of -90.84 and a beta of 3.75. Quantum Computing has a fifty-two week low of $6.08 and a fifty-two week high of $19.11. The stock has a fifty day moving average of $8.19 and a 200-day moving average of $8.90.
Quantum Computing (NASDAQ:QUBT – Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $5.55 million during the quarter, compared to the consensus estimate of $5.15 million. On average, sell-side analysts predict that Quantum Computing will post -0.19 EPS for the current year.
Institutional Trading of Quantum Computing
Several institutional investors and hedge funds have recently modified their holdings of the business. Focus Financial Network Inc. raised its stake in Quantum Computing by 402.6% in the second quarter. Focus Financial Network Inc. now owns 911,635 shares of the company’s stock valued at $8,843,000 after purchasing an additional 730,240 shares in the last quarter. Bank of America Corp DE bought a new stake in Quantum Computing during the second quarter valued at approximately $3,762,000. BlackRock Inc. bought a new stake in Quantum Computing during the second quarter valued at approximately $172,020,000. Corient Private Wealth LP purchased a new position in Quantum Computing in the 2nd quarter worth approximately $1,286,000. Finally, Deutsche Bank AG purchased a new position in Quantum Computing in the 2nd quarter worth approximately $2,025,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.
Quantum Computing Company Profile
Quantum Computing, Inc (NASDAQ:QUBT), also known as QCi, develops quantum and photonic computing technologies intended to make quantum-based solutions more accessible to commercial, government and research customers. The company focuses on applications involving optimization, machine learning, cybersecurity, artificial intelligence and other complex computational problems.
QCi’s offerings have included software tools and quantum-computing systems designed for optimization and related workloads, including its Qatalyst software platform and Dirac photonic quantum computing systems.
Further Reading
- Five stocks we like better than Quantum Computing
- Rocket Lab’s Neutron Delay Leaves Wall Street Bullish But Raises the Stakes for 2027
- ManpowerGroup Stock Sinks on Q3 Results, But Fundamentals Stay Solid
- Does the AI Selloff Put Alphabet’s Breakout in Doubt?
- Bank Earnings Are Mixed—These 2 ETFs Offer Very Different Paths to a Recovery
Receive News & Ratings for Quantum Computing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantum Computing and related companies with MarketBeat.com's FREE daily email newsletter.
