The stock of Quantum Computing Inc. (NASDAQ:QUBT) increased by $0.03 on Friday to finish at $1.23, up 2.50 percent. The last five days have seen an average of 1,238,280 shares of common stock traded. 13 times new highs were reached in the current year, with a fall of -$0.2800. The average number of shares traded over the last 20 days was 3,120,855, while the average volume over the last 50 days totaled 2,253,578.
QUBT stock appreciated 6.03% since last month. On 08/18/23, the company’s shares reached a one-month low of $1.0600. The stock touched a high of $3.49 on 02/06/23, after rallying from a low of $1.04 in 52 weeks. The price of QUBT stock has declined by -18.54% or -$0.2800 this year, reaching a new high 13 times. Still, the stock price is down -64.76% from the 52-week high.
Top 5 AI Stocks to Buy for 2023
The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything.
According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.
Click Here to Download the FREE Report.
Sponsored
Insider Transactions
QUBT stock investors should be aware that Quantum Computing Inc. (QUBT) stock had its last reported insider trading activity 31 days ago on Jul 28. On Jul 28, President, CEO Liscouski Robert sold 15,000 shares at $1.22 each. This transaction resulted in the insider making $18,300.
Valuation Metrics
Beta for the stock is 1.95. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 297.33, the price-to-book (PB) ratio of 1.08.
Financial Health
For the three months ended June 29, Quantum Computing Inc.’s quick ratio was 0.70, while its current ratio was 0.70, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 44.20% percent.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. QUBT’s return on assets (ROA) during the last 12 months has been -43.60%. There was a -44.10% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -50.50%.
Earnings Surprise
According to Quantum Computing Inc.’s quarterly financial report for the quarter that ended June 29. Net income for the quarter came in at $0.11 million, while revenues rose by 36.36% to $0.12 million. It was predicted that Quantum Computing Inc.’s quarterly earnings would be -$0.07, but it ended up being -$0.11, beating the consensus by 36.40%. At the end of Quantum Computing Inc.’s most recent quarter ended June 29, its total debt was $7.73 million.
Technical Picture
Here’s a quick look at Quantum Computing Inc.’s (QUBT) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 53.88%, suggesting the stock is Neutral, with a 63.12% historical volatility rate.
The stochastic %K and %D were 68.00% and 56.35% respectively, while the average true range (ATR) was 0.0990. Based on the 14-day stochastic reading of 73.91%, the RSI (14) reading is 50.60%. On the 9-day MACD Oscillator, the stock is at 0.0544, and the 14-day reading is at 0.0569.
Analyst Ratings
Analysts have assigned Quantum Computing Inc. (QUBT) an Buy rating. QUBT is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is QUBT’s price target for the next 12 months?
The current consensus forecast for the stock is between $9.50 and $9.50, with a median target price of $9.50. In analyzing these forecasts, the average price target given by analysts for Quantum Computing Inc. (QUBT) is $9.50.
