The Vanguard Group, Inc. recently announced the acquisition of new stake in Quantum Computing Inc. (NASDAQ:QUBT). The institutional investor has increased its shareholding in the Technology company by 14.18% to 0.99 million shares with purchase of 0.12 million shares. This fresh investment now brings its stake to 1.86% valued currently at $1.5 million. In addition, BlackRock Fund Advisors raised its holdings by 1038.0 to 0.26 million shares. And Geode Capital Management LLC has lifted its position by 13.72% or 26909.0 shares – to 0.22 million shares.
With over 0.21 million Quantum Computing Inc. (QUBT) shares trading Monday and a closing price of $1.93 on the day, the dollar volume was approximately $0.41 million. The shares have shown a negative half year performance of -36.51% and its price on 01/23/23 gained nearly 10.29%. Currently, there are 33.90M common shares owned by the public and among those 22.71M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for QUBT have a consensus price objective of $9.00. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $9.00. The average price target is 78.56% above its recent price level and an upside to the estimated low will see the stock gain 78.56% over that period. But an upside of 78.56% will see the stock hit the forecast high price target while median target price for the stock is $9.00.
Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 1 of these insider trades were purchases, accounting for 19,253,920 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Quantum Computing Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.68 million shares of the company’s stock, all valued at over $1.02 million. Vanguard Extended Market Index Fu bought 515.0 shares to see its total holdings expand to 0.3 million shares valued at over $0.46 million and representing 0.57% of the shares outstanding. Fidelity Extended Market Index Fu now owns shares totaling to 0.23% of the shares outstanding.
Shares of Quantum Computing Inc. (NASDAQ: QUBT) opened at $1.78, up $0.03 from a prior closing price of $1.75. However, the script later moved the day high at 1.9400, up 10.29%. The company’s stock has a 5-day price change of 10.92% and -7.66% over the past three months. QUBT shares are trading 27.81% year to date (YTD), with the 12-month market performance down to -29.04% lower. It has a 12-month low price of $1.42 and touched a high of $4.40 over the same period. QUBT has an average intraday trading volume of 111.10K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 18.61%, 3.36%, and -17.79% respectively.
Institutional ownership of Quantum Computing Inc. (NASDAQ: QUBT) shares accounts for 3.70% of the company’s 33.90M shares outstanding. Mutual fund holders own 16.34%, while other institutional holders and individual stakeholders account for 2.42% and 1.29% respectively.
It has a market capitalization of $100.48M and a beta (3y monthly) value of 1.28. The earnings-per-share (ttm) stands at -$1.18. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.61% over the week and 7.62% over the month.
Analysts forecast that Quantum Computing Inc. (QUBT) will achieve an EPS of $0 for the current quarter, -$0.17 for the next quarter and -$0.63 for 2023. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to decrease by -8.20%, and 40.80% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Quantum Computing Inc. (QUBT) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
