Quantum Computing (NASDAQ:QUBT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Quantum Computing (NASDAQ:QUBT) from a strong sell rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Other analysts have also issued research reports about the company. Ascendiant Capital Markets upped their price objective on Quantum Computing from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Cantor Fitzgerald reiterated a “neutral” rating and set a $10.00 target price on shares of Quantum Computing in a research note on Tuesday, August 11th. Wedbush initiated coverage on Quantum Computing in a report on Monday, August 3rd. They set a “neutral” rating and a $12.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $22.00 target price on shares of Quantum Computing in a report on Monday, June 29th. Finally, Lake Street Capital restated a “buy” rating on shares of Quantum Computing in a research note on Monday, July 6th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $18.67.

Quantum Computing Price Performance

Quantum Computing stock opened at $8.57 on Friday. The company’s 50-day moving average is $8.39 and its 200-day moving average is $8.89. The firm has a market capitalization of $1.94 billion, a PE ratio of -122.41 and a beta of 3.78. Quantum Computing has a fifty-two week low of $6.18 and a fifty-two week high of $25.84.

Quantum Computing (NASDAQ:QUBT) last issued its earnings results on Monday, August 10th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $5.55 million for the quarter, compared to analyst estimates of $5.15 million. As a group, analysts expect that Quantum Computing will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Quantum Computing

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC bought a new stake in shares of Quantum Computing in the second quarter valued at about $322,000. MCF Advisors LLC bought a new position in Quantum Computing during the second quarter worth about $29,000. WINTON GROUP Ltd acquired a new stake in Quantum Computing in the 2nd quarter worth about $398,000. Integrated Wealth Concepts LLC acquired a new stake in Quantum Computing in the 2nd quarter worth about $69,000. Finally, NewEdge Advisors LLC raised its stake in Quantum Computing by 89.4% in the 2nd quarter. NewEdge Advisors LLC now owns 20,718 shares of the company’s stock worth $201,000 after purchasing an additional 9,781 shares in the last quarter. 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 computing and quantum optics technologies designed to address complex computational and optimization problems. The company focuses on photonic quantum computing, which uses light-based systems intended to operate at or near room temperature and potentially reduce the infrastructure requirements associated with some conventional quantum-computing architectures.

QCi’s offerings include quantum optimization systems and related software intended for applications such as logistics, financial modeling, artificial intelligence, machine learning, cybersecurity and drug or materials discovery.