Quantum Computing (NASDAQ:QUBT) Stock Price Expected to Rise, Ascendiant Capital Markets Analyst Says

Quantum Computing (NASDAQ:QUBT) had its target price increased by Ascendiant Capital Markets from $8.25 to $8.50 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Quantum Computing Stock Down 29.5 %

Shares of NASDAQ QUBT opened at $3.10 on Wednesday. Quantum Computing has a 12 month low of $0.35 and a 12 month high of $4.69. The company has a market cap of $307.18 million, a P/E ratio of -10.69 and a beta of 1.64. The business’s 50 day moving average is $1.03 and its two-hundred day moving average is $0.79.

Quantum Computing (NASDAQ:QUBT) last announced its earnings results on Wednesday, October 2nd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $0.18 million for the quarter.

Institutional Investors Weigh In On Quantum Computing

A number of institutional investors have recently added to or reduced their stakes in QUBT. TRUE Private Wealth Advisors increased its stake in Quantum Computing by 318.1% during the second quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock valued at $33,000 after acquiring an additional 50,000 shares during the period. XTX Topco Ltd acquired a new stake in shares of Quantum Computing during the 3rd quarter worth approximately $46,000. Virtu Financial LLC increased its position in shares of Quantum Computing by 17.7% during the first quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock valued at $94,000 after purchasing an additional 14,326 shares during the period. PEAK6 Investments LLC acquired a new position in shares of Quantum Computing in the first quarter valued at $129,000. Finally, Geode Capital Management LLC lifted its position in Quantum Computing by 10.5% in the third quarter. Geode Capital Management LLC now owns 687,208 shares of the company’s stock worth $449,000 after purchasing an additional 65,486 shares during the period. 4.26% of the stock is owned by institutional investors and hedge funds.

About Quantum Computing

Quantum Computing Inc, an integrated photonics company, offers accessible and affordable quantum machines. The company offers Dirac systems are portable, low power, and room temperature qubit and qudit entropy quantum computers (EQC); reservoir computing; remote sensing; and single photon imaging. It also provides Quantum random number generator (uQRNG), a portable device that provides genuine random numbers directly from quantum processes; and quantum authentication which eliminates vulnerabilities inherent in classical cryptographic schemes by offering a comprehensive entanglement-based quantum cyber solution that seamlessly integrates into existing telecom fiber and communication infrastructure.