Quantum Computing Stock Rises to 52-Week High of $9.31 From Investing.com

Quantum (NASDAQ:) Computing Inc. (QUBT) shares have risen to a 52-week high, hitting a price level of $9.31. According to InvestingPro data, the stock is trading well above its fair value, with a market capitalization of $793 million and particularly high price volatility. The company, which operates in the emerging field of quantum computing, saw its shares soar as investors rallied behind its potential in the high-tech industry. Over the past year, Quantum Computing shares have seen a stunning 961.79% increase, reflecting high investor confidence and growing interest in quantum computing technologies. This impressive one-year change underscores the company’s momentum and the market’s optimistic outlook on its future, although InvestingPro’s analysis shows the company is not expected to be profitable this year, with current EBITDA at -$20.3 million. Dollar. Discover 13 additional exclusive insights about QUBT with an InvestingPro subscription.

In other recent news, Quantum Computing Inc. has made significant progress in various areas. The company successfully raised $40 million in a stock offering, which will be used for debt repayment, working capital and general corporate purposes. Additionally, Quantum Computing Inc. has secured a new contract from the University of Texas at Austin for its thin-film lithium niobate (TFLN) photonic chip foundry. This contract is part of the company’s pilot deployment program and is scheduled to be completed in 2025.

The company is also making progress in commissioning its quantum photonics chip foundry, which is expected to begin operations in 2025. At the same time, Quantum Computing Inc. has received a new contract from NASA to develop low-cost quantum remote sensing technology for space-based LIDAR imaging. Additionally, the company has expanded its partnership with Los Alamos National Laboratory, focusing on the Dirac-3 quantum optimization engine.

However, Quantum Computing Inc. is currently facing possible delisting from the Nasdaq stock exchange due to failure to comply with a listing rule. Ascendiant Capital adjusted its outlook for Quantum Computing Inc., lowering its 12-month price target to $8.25 from $8.75 previously, but maintaining a Buy rating on the company’s stock. These are some of the recent developments at Quantum Computing Inc.

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