Quantum Computing (NASDAQ:QUBT) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Quantum Computing Inc. (NASDAQ:QUBT) saw unusually-strong trading volume on Thursday . Approximately 9,039,395 shares traded hands during mid-day trading, a decline of 32% from the previous session’s volume of 13,374,246 shares.The stock last traded at $9.1550 and had previously closed at $9.40.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Quantum Computing in a report on Friday, March 27th. Cantor Fitzgerald decreased their price target on Quantum Computing from $15.00 to $10.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Ascendiant Capital Markets lowered their price target on Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday, December 22nd. 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. Finally, Wall Street Zen lowered Quantum Computing from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.00.

Quantum Computing Stock Performance

The company’s 50 day moving average price is $7.76 and its 200-day moving average price is $11.39. The company has a market cap of $2.15 billion, a price-to-earnings ratio of -63.80 and a beta of 3.67.

Quantum Computing (NASDAQ:QUBT) last released its earnings results on Monday, March 2nd. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.03. The business had revenue of $0.20 million for the quarter, compared to analyst estimates of $0.39 million.

Insider Activity at Quantum Computing

In other news, CFO Christopher Bruce Roberts sold 9,360 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $7.85, for a total transaction of $73,476.00. Following the completion of the sale, the chief financial officer owned 1,123,038 shares in the company, valued at approximately $8,815,848.30. This represents a 0.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Toth Financial Advisory Corp lifted its holdings in shares of Quantum Computing by 100.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares during the last quarter. Signaturefd LLC increased its stake in Quantum Computing by 36.5% in the 4th quarter. Signaturefd LLC now owns 3,742 shares of the company’s stock worth $38,000 after purchasing an additional 1,000 shares in the last quarter. Two Sigma Investments LP raised its holdings in Quantum Computing by 2.5% during the 3rd quarter. Two Sigma Investments LP now owns 40,705 shares of the company’s stock worth $749,000 after buying an additional 1,001 shares during the period. Gladstone Institutional Advisory LLC raised its holdings in Quantum Computing by 9.3% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 12,975 shares of the company’s stock worth $239,000 after buying an additional 1,100 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in Quantum Computing by 12.5% during the third quarter. Global Retirement Partners LLC now owns 10,055 shares of the company’s stock valued at $185,000 after buying an additional 1,115 shares in the last quarter. 4.26% of the stock is owned by institutional investors and hedge funds.

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.