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 0.05% to 0.99 million shares with purchase of 515.0 shares. This fresh investment now brings its stake to 1.64% valued currently at $1.14 million. In addition, BlackRock Fund Advisors raised its holdings by 1902.0 to 0.26 million shares. And Geode Capital Management LLC has lifted its position by 3.21% or 7170.0 shares – to 0.23 million shares.
With over 23.12 million Quantum Computing Inc. (QUBT) shares trading Tuesday and a closing price of $1.16 on the day, the dollar volume was approximately $26.81 million. The shares have shown a negative half year performance of -44.76% and its price on 05/23/23 lost nearly -10.08%. Currently, there are 60.50M common shares owned by the public and among those 22.71M shares have been available to trade.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
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 $9.50. The analysts have set the share’s price value over the next 12 months at a high of $9.50 and a low of $9.50. The average price target is 87.46% above its recent price level and an upside to the estimated low will see the stock gain 87.79% over that period. But an upside of 87.79% will see the stock hit the forecast high price target while median target price for the stock is $9.50.
Insiders at the company have transacted a total of 3 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 3 of these insider trades were purchases, accounting for 19,413,420 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 ETF, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market ETF owns 0.88 million shares of the company’s stock, all valued at over $1.01 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.21% of the shares outstanding.
Shares of Quantum Computing Inc. (NASDAQ: QUBT) opened at $1.57, up $0.28 from a prior closing price of $1.29. However, the script later moved the day high at 1.6500, down -10.08%. The company’s stock has a 5-day price change of -18.31% and -24.18% over the past three months. QUBT shares are trading -23.18% year to date (YTD), with the 12-month market performance down to -22.67% lower. It has a 12-month low price of $1.05 and touched a high of $4.40 over the same period. QUBT has an average intraday trading volume of 271.96K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.88%, -8.58%, and -40.88% respectively.
Institutional ownership of Quantum Computing Inc. (NASDAQ: QUBT) shares accounts for 3.70% of the company’s 60.50M shares outstanding. Mutual fund holders own 2.47%, while other institutional holders and individual stakeholders account for 46.48% and 0.94% respectively.
It has a market capitalization of $74.07M and a beta (3y monthly) value of 1.97. The earnings-per-share (ttm) stands at -$0.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 20.74% over the week and 10.42% over the month.
Analysts forecast that Quantum Computing Inc. (QUBT) will achieve an EPS of -$0.1 for the current quarter, -$0.1 for the next quarter and -$0.37 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.54 a year ago. Earnings per share for the fiscal year are expected to increase by 27.90%, and 5.10% 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.”
Leave a Reply