Market cap of Quantum Computing Inc. [QUBT] reaches 92.38M – now what?

Quantum Computing Inc. [NASDAQ: QUBT] slipped around -0.35 points on Monday, while shares priced at $2.11 at the close of the session, down -14.23%. The company report on February 6, 2023 that Quantum Computing Inc Creates a New Subsidiary to Deliver Products and Services for the Government and Defense Sectors.

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Quantum Computing Inc. (“QCI” or the “Company”) (NASDAQ: QUBT), a first-to-market full-stack photonic-based quantum computing and solutions company, today announces that it has officially launched QI Solutions, Inc. (“QI Solutions” or “QIS”), a wholly owned subsidiary dedicated to delivering quantum solutions to the government and defense markets. The new entity will lead and manage engagements, contracts and programs awarded from the US government and Department of Defense. QI Solutions, which will operate primarily out of a newly established facility in Arizona, will be overseen by highly seasoned operations and applied technology expert, Sean Gabeler.

“We see tremendous potential for our market-ready quantum solutions in the government and defense sectors, with an extensive and ever-increasing scope of technological applications. To better meet those needs, we determined it would be best to set up a separate entity specifically to address the unique requirements of this market,” commented Robert Liscouski, CEO at Quantum Computing Inc. “Once we made that assessment and began conversations with key-decision makers in this space regarding their needs, we knew right away there was no better-experienced professional than Sean to lead the new initiative. Sean is a highly experienced and proven leader with a successful track record of transitioning emerging technology to real world applications and is precisely what QCI requires to successfully lead this effort.”.

Quantum Computing Inc. stock is now 39.74% up from its year-to-date (YTD) trading value. QUBT Stock saw the intraday high of $3.49 and lowest of $1.9701 per share. The company’s 52-week high price is 4.40, which means current price is +40.67% above from all time high which was touched on 02/06/23.

Compared to the average trading volume of 148.25K shares, QUBT reached a trading volume of 8879129 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Quantum Computing Inc. [QUBT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QUBT shares is $9.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QUBT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for Quantum Computing Inc. is set at 0.28, with the Price to Sales ratio for QUBT stock in the period of the last 12 months amounting to 923.76. The Price to Book ratio for the last quarter was 0.85, with the Price to Cash per share for the same quarter was set at 0.24.

How has QUBT stock performed recently?

Quantum Computing Inc. [QUBT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 18.54. With this latest performance, QUBT shares gained by 28.66% in over the last four-week period, additionally sinking by -41.87% over the last 6 months – not to mention a drop of -14.92% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QUBT stock in for the last two-week period is set at 58.87, with the RSI for the last a single of trading hit 59.44, and the three-weeks RSI is set at 56.91 for Quantum Computing Inc. [QUBT]. The present Moving Average for the last 50 days of trading for this stock 1.83, while it was recorded at 2.05 for the last single week of trading, and 2.33 for the last 200 days.

Quantum Computing Inc. [QUBT]: Deeper insight into the fundamentals

Return on Equity for this stock declined to -181.30, with Return on Assets sitting at -171.41.

Quantum Computing Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.40 and a Current Ratio set at 3.40.

Insider trade positions for Quantum Computing Inc. [QUBT]

There are presently around $4 million, or 3.70% of QUBT stock, in the hands of institutional investors. The top three institutional holders of QUBT stocks are: VANGUARD GROUP INC with ownership of 1,001,644, which is approximately 14.053% of the company’s market cap and around 44.90% of the total institutional ownership; BLACKROCK INC., holding 265,751 shares of the stock with an approximate value of $0.56 million in QUBT stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.47 million in QUBT stock with ownership of nearly 13.715% of the company’s market capitalization.

Positions in Quantum Computing Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 17 institutional holders increased their position in Quantum Computing Inc. [NASDAQ:QUBT] by around 368,011 shares. Additionally, 5 investors decreased positions by around 85,803 shares, while 13 investors held positions by with 1,626,470 shares. The mentioned changes placed institutional holdings at 2,080,284 shares, according to the latest SEC report filing. QUBT stock had 6 new institutional investments in for a total of 190,465 shares, while 2 institutional investors sold positions of 6,412 shares during the same period.


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