Shares of Quantinuum Inc. (NASDAQ:QNT – Get Free Report) reached a new 52-week low during mid-day trading on Friday. The company traded as low as $32.91 and last traded at $33.21, with a volume of 2,008,151 shares trading hands. The stock had previously closed at $37.49.
Wall Street Analysts Forecast Growth
Several analysts recently commented on QNT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Quantinuum in a report on Wednesday, August 12th. Wall Street Zen downgraded Quantinuum from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings initiated coverage on Quantinuum in a report on Monday, August 31st. They set a “sell (d)” rating for the company. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Quantinuum in a report on Wednesday, August 12th. Finally, Yorkville Ives assumed coverage on Quantinuum in a research note on Monday, October 5th. They issued an “outperform” rating and a $60.00 price target on the stock. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.23.
Read Our Latest Research Report on QNT
Quantinuum Stock Performance
The stock has a market cap of $8.78 billion and a price-to-earnings ratio of -119.07. The company has a 50-day moving average price of $45.96.
Quantinuum (NASDAQ:QNT – Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $8.00 million during the quarter. Analysts forecast that Quantinuum Inc. will post -4.76 EPS for the current year.
Hedge Funds Weigh In On Quantinuum
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP bought a new position in shares of Quantinuum in the second quarter valued at $92,418,000. HBK Investments L P bought a new stake in shares of Quantinuum during the second quarter valued at approximately $14,669,000. BlueCrest Capital Management Ltd bought a new stake in Quantinuum during the second quarter worth about $14,304,000. McGuire Investment Group LLC increased its stake in shares of Quantinuum by 1,892.4% in the 3rd quarter. McGuire Investment Group LLC now owns 57,360 shares of the company’s stock valued at $2,757,000 after buying an additional 54,481 shares during the period. Finally, Readystate Asset Management LP acquired a new stake in Quantinuum during the 2nd quarter worth $4,111,000.
About Quantinuum
Quantinuum is a quantum computing company formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum. The company develops full-stack quantum computing technologies designed to support research and commercial applications across industries, including chemistry, materials science, cybersecurity, finance and artificial intelligence.
Its offerings include trapped-ion quantum computers, quantum software and development tools. Quantinuum’s software portfolio includes the TKET quantum compiler, InQuanto quantum chemistry platform, Quantum Origin quantum-enhanced cybersecurity solutions and the Nexus platform for developing and managing quantum applications.
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