Quantum Computing (NASDAQ:QUBT) Price Target Raised to $8.50

Quantum Computing (NASDAQ:QUBT) had its price objective upped by Ascendiant Capital Markets from $8.25 to $8.50 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Quantum Computing Trading Down 29.5 %

QUBT opened at $3.10 on Wednesday. The stock has a fifty day moving average price of $1.03 and a 200 day moving average price of $0.79. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $4.69. The stock has a market cap of $307.18 million, a price-to-earnings ratio of -10.69 and a beta of 1.64.

Quantum Computing (NASDAQ:QUBT) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $0.18 million for the quarter.

Institutional Trading of Quantum Computing

A number of institutional investors and hedge funds have recently made changes to their positions in QUBT. PEAK6 Investments LLC bought a new position in shares of Quantum Computing in the 1st quarter valued at approximately $129,000. XTX Topco Ltd acquired a new position in Quantum Computing during the third quarter valued at approximately $46,000. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 65,486 shares during the last quarter. TRUE Private Wealth Advisors lifted its stake in shares of Quantum Computing by 318.1% in the second 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 boosted its holdings 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 period. Institutional investors and hedge funds own 4.26% of the company’s stock.

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.