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

Quantum Computing (NASDAQ:QUBT) had its target price upped by Ascendiant Capital Markets from $8.25 to $8.50 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Quantum Computing Stock Performance

Shares of QUBT opened at $3.10 on Wednesday. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $4.69. The stock has a market capitalization of $307.18 million, a PE ratio of -10.69 and a beta of 1.64. The stock has a 50-day simple moving average of $1.03 and a 200-day simple moving average of $0.79.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly 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 firm had revenue of $0.18 million during the quarter.

Institutional Trading of Quantum Computing

A number of institutional investors have recently bought and sold shares of QUBT. PEAK6 Investments LLC acquired a new stake in shares of Quantum Computing during the 1st quarter worth about $129,000. XTX Topco Ltd purchased a new position in Quantum Computing in the third quarter valued at approximately $46,000. Geode Capital Management LLC raised its holdings in Quantum Computing by 10.5% during 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 in the last quarter. TRUE Private Wealth Advisors lifted its position in shares of Quantum Computing by 318.1% during the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock worth $33,000 after buying an additional 50,000 shares during the last quarter. Finally, Virtu Financial LLC lifted its position in shares of Quantum Computing by 17.7% during the 1st quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock worth $94,000 after buying an additional 14,326 shares during the last quarter. 4.26% of the stock is owned by hedge funds and other institutional investors.

Quantum Computing Company Profile

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.