Quantum Computing (NASDAQ:QUBT) Stock Price Down 8.4% – What’s Next?

Quantum Computing Inc. (NASDAQ:QUBT)’s stock price fell 8.4% during mid-day trading on Friday . The company traded as low as $8.30 and last traded at $8.2780. 3,372,234 shares were traded during trading, a decline of 78% from the average session volume of 15,075,247 shares. The stock had previously closed at $9.04.

Analyst Ratings Changes

QUBT has been the subject of a number of research reports. Lake Street Capital reduced their price objective on Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Wedbush started coverage on Quantum Computing in a report on Wednesday, December 17th. They set a “neutral” rating and a $12.00 price target for the company. Cantor Fitzgerald restated a “neutral” rating and issued a $15.00 price objective on shares of Quantum Computing in a report on Thursday, December 18th. Rosenblatt Securities assumed coverage on shares of Quantum Computing in a research report on Thursday, January 15th. They set a “buy” rating and a $22.00 price objective on the stock. Finally, Ascendiant Capital Markets reduced their target price on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Quantum Computing Stock Performance

The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of -13.40 and a beta of 3.44. The business’s 50 day moving average is $10.35 and its 200-day moving average is $13.70.

Insider Buying and Selling at Quantum Computing

In related news, COO Milan Begliarbekov sold 2,860 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was 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 owned 24,240 shares in the company, valued at $287,244. This represents a 10.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 19.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC acquired a new stake in shares of Quantum Computing in the second quarter worth $28,000. Farther Finance Advisors LLC increased its holdings in shares of Quantum Computing by 724.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock worth $28,000 after purchasing an additional 1,319 shares during the period. FWL Investment Management LLC acquired a new position in shares of Quantum Computing during the second quarter valued at about $33,000. New Millennium Group LLC bought a new stake in shares of Quantum Computing in the third quarter valued at about $36,000. Finally, Toth Financial Advisory Corp grew its position in Quantum Computing by 100.0% during the third quarter. Toth Financial Advisory Corp now owns 2,000 shares of the company’s stock worth $37,000 after buying an additional 1,000 shares in the last quarter. 4.26% of the stock is currently owned by institutional investors and hedge funds.

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.