Rosenblatt Securities Upgrades Quantum Computing (NASDAQ:QUBT) to “Strong-Buy”

Quantum Computing (NASDAQ:QUBT) was upgraded by research analysts at Rosenblatt Securities to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other research firms have also recently commented on QUBT. Cantor Fitzgerald restated a “neutral” rating and issued a $15.00 price target on shares of Quantum Computing in a report on Thursday, December 18th. Ascendiant Capital Markets dropped their target price on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, December 22nd. Lake Street Capital decreased their price target on shares of Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Wedbush began coverage on Quantum Computing in a report on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price target for the company. Finally, Wall Street Zen upgraded Quantum Computing from a “strong sell” rating to a “hold” rating in a report on Saturday, November 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Quantum Computing currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Quantum Computing Trading Down 2.6%

QUBT stock opened at $12.18 on Wednesday. Quantum Computing has a 12 month low of $4.37 and a 12 month high of $25.84. The stock has a market cap of $2.73 billion, a PE ratio of -19.97 and a beta of 3.49. The company has a 50-day moving average price of $11.57 and a 200 day moving average price of $15.39.

Quantum Computing (NASDAQ:QUBT) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $0.38 million during the quarter, compared to the consensus estimate of $0.12 million.

Insiders Place Their Bets

In other news, COO Milan Begliarbekov sold 2,860 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $11.85, for a total value of $33,891.00. Following the completion of the transaction, the chief operating officer directly owned 24,240 shares of the company’s stock, valued at approximately $287,244. The trade was a 10.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 19.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Quantum Computing

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aventura Private Wealth LLC purchased a new stake in shares of Quantum Computing during the fourth quarter valued at about $26,000. Nisa Investment Advisors LLC purchased a new stake in Quantum Computing during the second quarter valued at approximately $28,000. Farther Finance Advisors LLC lifted its position in Quantum Computing by 724.7% during the third quarter. Farther Finance Advisors LLC now owns 1,501 shares of the company’s stock valued at $28,000 after acquiring an additional 1,319 shares during the last quarter. Rhumbline Advisers acquired a new stake in Quantum Computing in the first quarter valued at approximately $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Quantum Computing in the second quarter worth $29,000. Hedge funds and other institutional investors own 4.26% of the company’s stock.

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.