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

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

Quantum Computing Stock Up 92.8 %

Shares of NASDAQ:QUBT opened at $2.66 on Wednesday. The company has a market cap of $263.57 million, a PE ratio of -9.17 and a beta of 1.64. The company’s 50-day moving average price is $0.90 and its 200 day moving average price is $0.75. Quantum Computing has a fifty-two week low of $0.35 and a fifty-two week high of $3.42.

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 firm had revenue of $0.18 million during the quarter.

Hedge Funds Weigh In On Quantum Computing

Several large investors have recently bought and sold shares of the stock. Virtu Financial LLC increased its stake in Quantum Computing by 17.7% during the 1st quarter. Virtu Financial LLC now owns 95,425 shares of the company’s stock valued at $94,000 after buying an additional 14,326 shares during the period. TRUE Private Wealth Advisors increased its stake in Quantum Computing by 318.1% during the 2nd quarter. TRUE Private Wealth Advisors now owns 65,718 shares of the company’s stock valued at $33,000 after buying an additional 50,000 shares during the period. Finally, PEAK6 Investments LLC acquired a new position in Quantum Computing during the 1st quarter valued at about $129,000. Institutional investors and hedge funds own 4.26% of the company’s stock.

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.