This Quantum Computing Stock Is Beginning To Heat Up Amid 'Stalking Horse Bid,' Bullish Analyst Consensus: Momentum Score Surges

Quantum Computing Inc. (NASDAQ:QUBT) has drawn renewed investor attention after being tapped as the stalking horse bidder for selected remaining assets of Luminar Technologies as part of the latter's ongoing Chapter 11 process.

This comes amid a growing bullish consensus among analysts for the stock, leading to a surge in the company’s Momentum score in Benzinga’s Edge Stock Rankings.

Quantum Computing Stock Sees Spike In Momentum

The Momentum score in Benzinga’s Edge Stock Rankings is essentially a sign of strength in a stock, calculated based on price movement and volatility across multiple time frames, before being ranked as a percentile against others.

Quantum Computing’s Momentum score has surged from 4.15 to 56.81 within the span of a week, following wild swings in the stock over the past month.

This comes after the company agreed to serve as the initial bidder for Luminar’s assets, for a proposed purchase price of $22 million. It includes the company’s LiDAR and photonics capabilities, which align closely with Quantum’s integrated photonics and quantum optics.

“Being selected as the stalking horse bidder reflects our conviction in the strategic fit of these assets and our commitment to building a scaled photonics platform with real-world impact,” said Yuping Huang, CEO of Quantum Computing Inc.

Analysts continue to remain bullish on the stock, with a consensus Price Target at $17 per share, representing an upside of 45.42% from current levels.

The stock scores high on Momentum, but has an unfavorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.

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