Quantum Computing (NASDAQ:QUBT) Shares Down 6.6% - Here's Why

Quantum Computing Inc. (NASDAQ:QUBT - Get Free Report) shares were down 6.6% during trading on Monday . The stock traded as low as $8.27 and last traded at $8.3350. Approximately 3,421,767 shares changed hands during trading, a decline of 78% from the average daily volume of 15,395,157 shares. The stock had previously closed at $8.92.

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Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Lake Street Capital reaffirmed a "buy" rating on shares of Quantum Computing in a report on Monday, July 6th. Wedbush began coverage on Quantum Computing in a research report on Monday, August 3rd. They set a "neutral" rating and a $12.00 target price on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $22.00 price target on shares of Quantum Computing in a report on Monday, June 29th. Wall Street Zen downgraded Quantum Computing from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. Finally, Ascendiant Capital Markets lifted their price objective on Quantum Computing from $27.00 to $30.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $18.33.