15 Stocks That Stole The Show Last Week

13. Quantum Computing Inc. (NASDAQ:QUBT)

Quantum Computing rallied by 21 percent week-on-week as investors gobbled up shares in the company after earning a rating upgrade from an investment firm.

In its market note last week, Ascendiant Capital Markets reaffirmed its “buy” recommendation on Quantum Computing Inc.’s (NASDAQ:QUBT) stock, while raising its price target to $22 from $14 previously. The new price target represented a 60-percent upside from its $13.7 closing price on Friday.

In the first quarter of the year, Quantum Computing Inc. (NASDAQ:QUBT) swung to a net income attributable to shareholders of $16.98 million from a $6.4 million net loss in the same period last year, primarily driven by a $23.6 million non-cash gain on the mark-to-market valuation of the company’s warrant liability as a result of its merger with QPhoton in June 2022.

Revenues, on the other hand, rose by 44 percent to $39,000 from $27,000 in the same period last year.