Quantum Computing Inc (NASDAQ: QUBT): Unlocking Growth Opportunity

Quantum Computing Inc (NASDAQ:QUBT) shares, rose in value, with the stock price down by -1.03% to the previous day’s close as strong demand from buyers drove the stock to $0.98.

Actively observing the price movement in the last trading, the stock closed the session at $0.99. The value of beta (5-year monthly) was 1.39. Referring to stock’s 52-week performance, its high was $1.81, and the low was $0.63. On the whole, QUBT has fluctuated by 17.18% over the past month.

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With the market capitalization of Quantum Computing Inc currently standing at about $73.40 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 25, 2024 – Mar 29, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0, which is expected to increase to $0 for fiscal year -$0.42 and then to about -$0.39 by fiscal year 2024. Data indicates that the EPS growth is expected to be 39.10% in 2024, while the next year’s EPS growth is forecast to be 7.10%.

Analysts have estimated the company’s revenue for the quarter at $100k, with a low estimate of $100k and a high estimate of $100k. According to the average forecast, sales growth in current quarter could jump up 4,900.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $400k, representing an increase of 196.30% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that QUBT’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a Hold.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of QUBT currently trading nearly -7.29% and 6.13% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 47.47, while the 7-day volatility ratio is showing 9.27% which for the 30-day chart, stands at 11.16%. Furthermore, Quantum Computing Inc (QUBT)’s beta value is 1.46, and its average true range (ATR) is 0.10.

A comparison of Quantum Computing Inc (QUBT) with its peers suggests the former has fared considerably weaker in the market. QUBT showed an intraday change of -1.03% in last session, and over the past year, it shrunk by -25.40%%.

Data on historical trading for Quantum Computing Inc (NASDAQ:QUBT) indicates that the trading volumes over the past 10 days have averaged 1.79 million and over the past 3 months, they’ve averaged 1.61 million. According to company’s latest data on outstanding shares, there are 77.45 million shares outstanding.

Nearly 37.67% of Quantum Computing Inc’s shares belong to company insiders and institutional investors own 4.25% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 3.38 million shares as on Mar 15, 2024, resulting in a short ratio of 1.44. According to the data, the short interest in Quantum Computing Inc (QUBT) stood at 4.51% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 2.19 million. The stock has risen by 7.03% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the QUBT stock heading into the next quarter.