Ascendiant Capital Markets Boosts Quantum Computing (NASDAQ:QUBT) Price Target to $8.50

Quantum Computing (NASDAQ:QUBT) had its target price lifted by equities researchers at Ascendiant Capital Markets from $8.25 to $8.50 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Ascendiant Capital Markets’ price target suggests a potential upside of 93.18% from the company’s current price.

Quantum Computing Price Performance

Quantum Computing stock opened at $4.40 on Wednesday. Quantum Computing has a fifty-two week low of $0.35 and a fifty-two week high of $4.69. The firm has a fifty day moving average price of $0.98 and a two-hundred day moving average price of $0.77.

Quantum Computing (NASDAQ:QUBT) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported ($0.06) earnings per share for the quarter, topping 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 hedge funds have recently bought and sold shares of QUBT. PEAK6 Investments LLC acquired a new position in shares of Quantum Computing during the first quarter valued at about $129,000. Virtu Financial LLC lifted its position in Quantum Computing by 17.7% in 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 during the period. Finally, TRUE Private Wealth Advisors increased its holdings in Quantum Computing by 318.1% in 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. 4.26% of the stock is owned by 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.