Quantinuum Inc. (NASDAQ:QNT – Get Free Report)’s stock price passed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $42.93 and traded as low as $40.09. Quantinuum shares last traded at $40.57, with a volume of 3,032,547 shares trading hands.
Latest Quantinuum News
These are some of the QNT news items that stood out recently:
- Positive Sentiment: Quantinuum and RIKEN expanded their partnership to advance quantum-AI hybrid supercomputing in Japan. Quantinuum’s Reimei system has been upgraded to its H2 system, supporting more complex research and work in fields including electronics, energy and life sciences. The partners also plan to develop a fault-tolerant quantum computer. Article
- Positive Sentiment: A recent report points to technological progress, growing backlog and revenue as reasons for optimism about Quantinuum’s commercial prospects. However, the article also notes that the stock had already rallied sharply, which may leave it vulnerable to profit-taking. Article
- Neutral Sentiment: A short-interest report lists zero shares sold short and a zero-day days-to-cover ratio as of November 10, suggesting short selling was not a notable source of pressure based on the reported figures. Short interest data
Analyst Ratings Changes
QNT has been the subject of several analyst reports. Yorkville Ives started coverage on shares of Quantinuum in a report on Monday, October 5th. They set an “outperform” rating and a $60.00 price target for the company. Weiss Ratings assumed coverage on Quantinuum in a research report on Monday, August 31st. They set a “sell (d)” rating on the stock. Cantor Fitzgerald dropped their target price on Quantinuum from $90.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, November 6th. Rosenblatt Securities reissued a “buy” rating and set a $155.00 target price on shares of Quantinuum in a research note on Thursday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price target on Quantinuum from $97.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, November 6th. Thirteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $81.77.
Read Our Latest Stock Report on Quantinuum
Quantinuum Stock Down 5.7%
The stock has a 50-day simple moving average of $42.93. The stock has a market cap of $10.68 billion and a P/E ratio of -54.09.
Quantinuum (NASDAQ:QNT – Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.70. The business had revenue of $9.05 million for the quarter. As a group, equities analysts forecast that Quantinuum Inc. will post -4.76 EPS for the current fiscal year.
Institutional Investors Weigh In On Quantinuum
Several hedge funds have recently modified their holdings of the company. GW&K Investment Management LLC acquired a new stake in shares of Quantinuum during the third quarter worth $82,000. Voya Investment Management LLC increased its position in shares of Quantinuum by 143.2% in the third quarter. Voya Investment Management LLC now owns 1,681,316 shares of the company’s stock worth $80,804,000 after acquiring an additional 989,879 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Quantinuum in the 3rd quarter valued at $97,000. Pier 88 Investment Partners LLC purchased a new stake in shares of Quantinuum during the 3rd quarter valued at about $154,000. Finally, Fifth Third Bancorp raised its stake in shares of Quantinuum by 1,530.2% during the third quarter. Fifth Third Bancorp now owns 1,027 shares of the company’s stock valued at $49,000 after purchasing an additional 964 shares during the period.
About Quantinuum
Quantinuum develops quantum computers, software and cybersecurity products for businesses, researchers and government organizations. Its work includes trapped-ion quantum systems, tools for programming and managing quantum applications, and services focused on quantum chemistry and data security. The company was formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum, bringing together quantum hardware and software capabilities. Its offerings include the H-series quantum computers, the TKET software development kit and InQuanto, a platform for quantum chemistry research.
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