Quantum Computing Inc [NASDAQ: QUBT] closed the trading session at $0.86. The company report on February 14, 2024 at 8:00 AM that Quantum Computing Inc. Awarded Fourth Subcontract from NASA.
Quantum Computing Inc. (QCi), (Nasdaq: QUBT), an innovative quantum optics and nanophononics technology company, today announced that they have been awarded a fourth project from NASA. QCi, the only company worldwide that can utilize Entropy Quantum Computing (EQC) to denoise LiDAR spectral information, has been tapped by Analytical Mechanics Associates on behalf of NASA to provide a new approach to remove sunlight noise from LiDAR spectral mapping in lower earth orbit.
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This technology improvement would be an effective and affordable method for NASA to measure the unique physical properties of clouds and aerosols to prepare for space missions at any time of day. The adoption of EQC for denoising LiDAR spectral information provides a superior alternative to traditional noise reduction methodologies that require a larger laser and restrictive bandwidth filtering, both of which require greater size, weight, power and cost to achieve as compared to the EQC.
The stocks have a year to date performance of -5.82 percent and weekly performance of 16.85 percent. The stock has been moved at -22.52 percent over the last six months. The stock has performed 12.43 percent around the most recent 30 days and changed 11.46 percent over the most recent 3-months.
If compared to the average trading volume of 732.94K shares, QUBT reached to a volume of 3825762 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to 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 $8.75 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 1.00. 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 0.07, with the Price to Sales ratio for QUBT stock in the period of the last 12 months amounting to 230.66. The Price to Book ratio for the last quarter was 0.79, with the Price to Cash per share for the same quarter was set at 0.10.
QUBT stock trade performance evaluation
Quantum Computing Inc [QUBT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.85. With this latest performance, QUBT shares gained by 12.43% in over the last four-week period, additionally sinking by -22.52% over the last 6 months – not to mention a drop of -47.40% 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 54.21, with the RSI for the last a single of trading hit 58.05, and the three-weeks RSI is set at 52.20 for Quantum Computing Inc [QUBT]. The present Moving Average for the last 50 days of trading for this stock 0.8486, while it was recorded at 0.7938 for the last single week of trading, and 1.0714 for the last 200 days.
Quantum Computing Inc [QUBT]: An insightful look at the core fundamentals
Quantum Computing Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
Earnings per share (EPS) analysis for Quantum Computing Inc [QUBT] stock
With the latest financial reports released by the company, Quantum Computing Inc posted -0.14/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QUBT.
Quantum Computing Inc [QUBT]: Institutional Ownership
The top three institutional holders of QUBT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in QUBT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in QUBT stock with ownership which is approximately 5.8325%.
