Quantinuum Inc. (NASDAQ:QNT – Get Free Report)’s share price reached a new 52-week low on Thursday. The company traded as low as $46.42 and last traded at $46.44, with a volume of 866865 shares traded. The stock had previously closed at $48.06.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Quantinuum in a research report on Wednesday, August 12th. Morgan Stanley initiated coverage on shares of Quantinuum in a report on Monday, June 29th. They set an “equal weight” rating and a $78.00 price objective on the stock. Zacks Research raised shares of Quantinuum to a “hold” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued an “overweight” rating and a $97.00 target price for the company. Finally, Wall Street Zen downgraded shares of Quantinuum from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Quantinuum presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.42.
Read Our Latest Report on Quantinuum
Quantinuum Stock Down 1.3%
Quantinuum (NASDAQ:QNT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $8.00 million during the quarter. On average, research analysts predict that Quantinuum Inc. will post -4.76 earnings per share for the current year.
Hedge Funds Weigh In On Quantinuum
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Lisanti Capital Growth LLC acquired a new stake in Quantinuum during the 2nd quarter valued at approximately $409,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Quantinuum in the second quarter worth $417,000. Outfitters Financial LLC purchased a new position in shares of Quantinuum during the second quarter worth $511,000. Tidal Investments LLC purchased a new position in shares of Quantinuum during the second quarter worth $1,122,000. Finally, Baird Financial Group Inc. acquired a new position in Quantinuum during the second quarter valued at $1,251,000.
Quantinuum Company Profile
Quantinuum is a quantum computing and quantum information technology company that develops full-stack quantum computing systems, software and cybersecurity solutions. Its business combines trapped-ion quantum computing hardware with software designed to help organizations develop, test and run quantum applications.
The company offers quantum computing systems and related cloud access, as well as software products for quantum programming, algorithm development and chemistry research. Its portfolio has included the TKET software development toolkit, InQuanto for quantum chemistry and materials modeling, and Quantum Origin, a platform focused on quantum-enhanced cybersecurity and cryptographic key generation.
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