Quantinuum (NASDAQ:QNT) Reaches New 12-Month Low – What’s Next?

Quantinuum Inc. (NASDAQ:QNT)’s stock price hit a new 52-week low during trading on Friday. The stock traded as low as $32.91 and last traded at $33.21, with a volume of 2,008,151 shares traded. The stock had previously closed at $37.49.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group set a $85.00 price target on Quantinuum in a report on Wednesday, August 12th. Yorkville Ives initiated coverage on Quantinuum in a report on Monday, October 5th. They set an “outperform” rating and a $60.00 price objective for the company. Sanford C. Bernstein reiterated a “hold” rating on shares of Quantinuum in a research report on Wednesday, August 12th. Rosenblatt Securities reissued a “buy” rating and issued a $155.00 target price on shares of Quantinuum in a report on Thursday, October 22nd. Finally, Wall Street Zen lowered Quantinuum from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Quantinuum currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.23.

Quantinuum Trading Down 10.4%

The firm has a market cap of $8.85 billion and a P/E ratio of -120.00. The business has a 50-day moving average price of $45.53.

Quantinuum (NASDAQ:QNT) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The firm had revenue of $8.00 million for the quarter. As a group, equities research analysts expect that Quantinuum Inc. will post -4.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Quantinuum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP acquired a new position in shares of Quantinuum in the second quarter worth $92,418,000. HBK Investments L P acquired a new stake in shares of Quantinuum during the second quarter valued at $14,669,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Quantinuum during the second quarter valued at $14,304,000. Readystate Asset Management LP acquired a new stake in shares of Quantinuum during the second quarter valued at $4,111,000. Finally, Light Street Capital Management LLC purchased a new stake in Quantinuum during the 2nd quarter worth about $2,881,000.

Quantinuum Company Profile

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.