Quantum Computing Inc. [QUBT] moved down -10.08: Why It’s Important

Quantum Computing Inc. [NASDAQ: QUBT] stock went on a downward path that fall over -10.08% on Tuesday, amounting to a one-week price decrease of less than -18.31%. The company report on May 23, 2023 at 8:00 AM that Quantum Computing Inc. Receives Follow-On Subcontract Award to Support NASA to Test and Process Quantum Sensing Solutions for Monitoring Climate Change.

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 received a follow-on task order to its subcontract award announced on February 8, 2023, to support NASA in remote sensing and climate change monitoring.  In addition to testing its proprietary quantum photonic system for remote sensing applications (QLiDAR), QCI will also be processing satellite images by utilizing its photonic-based reservoir computing technology.  This initial testing engagement is expected to be completed during the second quarter of 2023.

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Dr. William McGann, QCI Chief Technology Officer commented, “Sunlight interference (noise) is a huge issue in space-based LiDAR remote sensing. LiDAR measurements of the air, and the optically thin aerosols/clouds during daytime from space experience compromised signal integrity. As a result, it is very difficult, if at all possible, to make good daytime LiDAR measurements from space with adequate signal-to-noise-ratios. In this expanded project, we will explore reservoir photonic computing to remove sunlight noise in satellite LiDAR images, thereby enabling daytime operations of spaceborne LiDAR systems. Our current prototype systems have shown outstanding performance in both pattern prediction and recognition, demonstrating good potential for sunlight noise removal. Through this project, we hope to prove the concept and develop a roadmap for future large-scale deployment to help NASA and many other potential customers.”.

Over the last 12 months, QUBT stock dropped by -22.67%. The one-year Quantum Computing Inc. stock forecast points to a potential upside of 87.46. The average equity rating for QUBT stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $74.07 million, with 60.50 million shares outstanding and 22.71 million shares in the current float. Compared to the average trading volume of 271.96K shares, QUBT stock reached a trading volume of 23115957 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $9.25 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 0.14, with the Price to Sales ratio for QUBT stock in the period of the last 12 months amounting to 740.66. The Price to Book ratio for the last quarter was 0.91, with the Price to Cash per share for the same quarter was set at 0.11.

QUBT Stock Performance Analysis:

Quantum Computing Inc. [QUBT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -18.31. With this latest performance, QUBT shares dropped by -3.33% in over the last four-week period, additionally sinking by -44.76% over the last 6 months – not to mention a drop of -22.67% 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 41.39, with the RSI for the last a single of trading hit 36.60, and the three-weeks RSI is set at 43.25 for Quantum Computing Inc. [QUBT]. The present Moving Average for the last 50 days of trading for this stock 1.2662, while it was recorded at 1.2900 for the last single week of trading, and 1.9497 for the last 200 days.

Insight into Quantum Computing Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Quantum Computing Inc. [QUBT] shares currently have an operating margin of -26966.37 and a Gross Margin at -18661.66. Quantum Computing Inc.’s Net Margin is presently recorded at -28451.36.

Return on Equity for this stock declined to -84.73, with Return on Assets sitting at -72.42.

Quantum Computing Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

Quantum Computing Inc. [QUBT] Insider Position Details


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