Quantinuum Inc. (NASDAQ:QNT – Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $51.39, but opened at $55.57. Quantinuum shares last traded at $53.40, with a volume of 876,104 shares.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Bank of America began coverage on Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $100.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Quantinuum in a research report on Wednesday, August 12th. Rosenblatt Securities reissued a “buy” rating and issued a $155.00 price objective on shares of Quantinuum in a research note on Wednesday, August 19th. Evercore began coverage on shares of Quantinuum in a report on Monday, June 29th. They issued an “outperform” rating and a $98.00 price objective for the company. Finally, JPMorgan Chase & Co. began coverage on shares of Quantinuum in a research note on Monday, June 29th. They set an “overweight” rating and a $97.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $98.42.
Get Our Latest Research Report on Quantinuum
Quantinuum Stock Down 0.3%
Quantinuum (NASDAQ:QNT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $8.00 million during the quarter. As a group, analysts expect that Quantinuum Inc. will post -3.84 EPS for the current fiscal year.
Institutional Trading of Quantinuum
Several hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in Quantinuum in the second quarter worth approximately $92,418,000. HBK Investments L P acquired a new stake in shares of Quantinuum in the 2nd quarter valued at $14,669,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Quantinuum in the 2nd quarter valued at $14,304,000. Readystate Asset Management LP purchased a new stake in shares of Quantinuum during the 2nd quarter worth $4,111,000. Finally, Light Street Capital Management LLC purchased a new position in Quantinuum in the second quarter valued at $2,881,000.
Quantinuum Company Profile
Quantinuum is a quantum computing and technology company formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum. The company develops integrated quantum computing systems, combining quantum hardware, software and applications for business, government and research customers.
Its offerings include trapped-ion quantum computers in the H-Series, quantum software development tools such as TKET, and cybersecurity products including Quantum Origin, which is designed to help generate and protect cryptographic keys.
See Also
- Five stocks we like better than Quantinuum
- Full Throttle: Kratos and GE Fire Up a Next-Gen Defense Engine
- Sandisk Joins the S&P 100—Is the Index Flow, or the AI Story, Driving the Stock?
- These 4 Companies Are Monetizing AI Today
- Quantum and Rare Earths? Implications of the Pasqal/USAR Partnership
Receive News & Ratings for Quantinuum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantinuum and related companies with MarketBeat.com's FREE daily email newsletter.
