Quantum Computing Inc. (NASDAQ: QUBT) stock fell -6.56% on Monday to $1.14 against a previous-day closing price of $1.22. With 1.26 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.99 million shares. During the session, the Computer Hardware company that operates in wider Technology sector, reached to the highest price of $1.2200 whereas the lowest price it dropped to was $1.1400. The 52-week range on QUBT shows that it touched its highest point at $3.49 and its lowest point at $1.04 during that stretch. It currently has a 1-year price target of $9.00. Beta for the stock currently stands at 1.98.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of QUBT was down-trending over the past week, with a drop of -13.64%, but this was up by 4.59% over a month. Three-month performance dropped to -32.94% while six-month performance fell -5.79%. The stock lost -60.00% in the past year, while it has lost -24.50% so far this year. A look at the trailing 12-month EPS for QUBT yields -0.77 with Next year EPS estimates of -0.38. For the next quarter, that number is -0.10. This implies an EPS growth rate of 27.90% for this year and 5.00% for next year.
Float and Shares Shorts:
At present, 67.22 million QUBT shares are outstanding with a float of 46.32 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.68 million, which was 3.61% higher than short shares on Jul 30, 2023. In addition to Mr. Robert P. Liscouski as the firm’s Pres, CEO & Chairman, Dr. William J. McGann Ph.D. serves as its CTO & COO.
Through their ownership of 3.96% of QUBT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 37.66% of QUBT, in contrast to 2.39% held by mutual funds. Shares owned by individuals account for 1.56%. As the largest shareholder in QUBT with 1.61% of the stake, The Vanguard Group, Inc. holds 1,198,851 shares worth 1,198,851. A second-largest stockholder of QUBT, Geode Capital Management LLC, holds 379,527 shares, controlling over 0.51% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in QUBT, holding 375,141 shares or 0.51% stake. With a 1.19% stake in QUBT, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 880,269 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.51% of QUBT stock, is the second-largest Mutual Fund holder. It holds 378,953 shares valued at 0.45 million. Fidelity Extended Market Index Fu holds 0.25% of the stake in QUBT, owning 184,260 shares worth 0.22 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, QUBT reported revenue of $65.48k and operating income of -$4.81M. The EBITDA in the recently reported quarter was -$4.52M and diluted EPS was -$0.17.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for QUBT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With QUBT analysts setting a high price target of $9.00 and a low target of $9.00, the average target price over the next 12 months is $9.00. Based on these targets, QUBT could surge 689.47% to reach the target high and rise by 689.47% to reach the target low. Reaching the average price target will result in a growth of 689.47% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded QUBT stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 127,000 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 19,413,420 while 186,445 shares were sold.