Ascendiant Capital Markets Forecasts Strong Price Appreciation for Quantum Computing (NASDAQ:QUBT) Stock

Quantum Computing (NASDAQ:QUBT) had its price objective boosted by equities researchers at Ascendiant Capital Markets from $8.25 to $8.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Ascendiant Capital Markets’ price objective indicates a potential upside of 280.31% from the company’s previous close.

Quantum Computing Price Performance

NASDAQ QUBT traded up $0.86 during mid-day trading on Wednesday, reaching $2.24. The stock had a trading volume of 14,934,316 shares, compared to its average volume of 1,377,970. The company has a fifty day moving average price of $0.86 and a 200 day moving average price of $0.73. Quantum Computing has a 1 year low of $0.35 and a 1 year high of $2.30. The stock has a market cap of $221.47 million, a PE ratio of -7.71 and a beta of 1.64.

Quantum Computing (NASDAQ:QUBT) last released its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) EPS 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 Investors Weigh In On Quantum Computing

A number of large investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC grew 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 worth $94,000 after purchasing an additional 14,326 shares in the last quarter. TRUE Private Wealth Advisors grew its holdings 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 in the last quarter. Finally, PEAK6 Investments LLC bought a new stake in shares of Quantum Computing during the first quarter valued at approximately $129,000. Institutional investors 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.