Quantum Computing’s (QUBT) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Quantum Computing (NASDAQ:QUBTFree Report) in a report issued on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $22.00 price target on the stock.

A number of other research analysts have also recently issued reports on the company. Lake Street Capital lowered their price objective on Quantum Computing from $24.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Wall Street Zen upgraded Quantum Computing from a “sell” rating to a “hold” rating in a report on Sunday, February 15th. Wedbush began coverage on shares of Quantum Computing in a research note on Wednesday, December 17th. They issued a “neutral” rating and a $12.00 price target on the stock. Cantor Fitzgerald reissued a “neutral” rating and set a $15.00 price objective on shares of Quantum Computing in a research report on Thursday, December 18th. Finally, Ascendiant Capital Markets decreased their target price on shares of Quantum Computing from $40.00 to $25.00 and set a “buy” rating for the company in a report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Quantum Computing presently has a consensus rating of “Hold” and an average price target of $17.00.

Read Our Latest Stock Report on QUBT

Quantum Computing Price Performance

NASDAQ:QUBT opened at $7.72 on Tuesday. The firm has a market capitalization of $1.73 billion, a P/E ratio of -51.47 and a beta of 3.51. Quantum Computing has a one year low of $4.37 and a one year high of $25.84. The company’s 50-day simple moving average is $10.01 and its 200 day simple moving average is $13.43.

Quantum Computing (NASDAQ:QUBTGet Free Report) last released its earnings results on Monday, March 2nd. The company reported ($0.01) earnings per share (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 analysts’ expectations of $0.39 million.

Insider Buying and Selling at Quantum Computing

In other news, COO Milan Begliarbekov sold 2,860 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $11.85, for a total transaction 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 $287,244. The trade was a 10.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 19.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Quantum Computing

Large investors have recently added to or reduced their stakes in the stock. Aventura Private Wealth LLC bought a new position in shares of Quantum Computing during the 4th quarter valued at $26,000. International Assets Investment Management LLC bought a new position in Quantum Computing in the fourth quarter valued at about $26,000. Nisa Investment Advisors LLC purchased a new position in Quantum Computing in the second quarter worth about $28,000. Farther Finance Advisors LLC grew its stake 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 valued at $28,000 after purchasing an additional 1,319 shares during the period. Finally, Rhumbline Advisers bought a new stake in shares of Quantum Computing during the 1st quarter valued at about $28,000. Institutional investors own 4.26% of the company’s stock.

Key Headlines Impacting Quantum Computing

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About Quantum Computing

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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.

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