Quantinuum (NASDAQ:QNT) Trading Up 6.1% – Here’s What Happened
by Amy Steele · The Cerbat GemQuantinuum Inc. (NASDAQ:QNT – Get Free Report) was up 6.1% during mid-day trading on Wednesday . The company traded as high as $52.30 and last traded at $51.61. Approximately 250,732 shares traded hands during trading, a decline of 89% from the average session volume of 2,278,953 shares. The stock had previously closed at $48.65.
Analyst Upgrades and Downgrades
Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein reissued a “hold” rating on shares of Quantinuum in a research report on Wednesday, August 12th. UBS Group started coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $93.00 target price for the company. Morgan Stanley assumed coverage on Quantinuum in a report on Monday, June 29th. They set an “equal weight” rating and a $78.00 target price for the company. TD Cowen assumed coverage on Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group set a $85.00 price target on Quantinuum in a report on Wednesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $98.42.
Get Our Latest Stock Analysis on Quantinuum
Quantinuum Price Performance
The stock’s 50 day moving average is $56.11.
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 for the quarter. As a group, equities analysts forecast that Quantinuum Inc. will post -1.64 EPS for the current fiscal year.
Institutional Trading of Quantinuum
Hedge funds have recently modified their holdings of the stock. Lisanti Capital Growth LLC bought a new stake in shares of Quantinuum during the 2nd quarter worth about $409,000. Integrated Wealth Concepts LLC acquired a new stake in Quantinuum in the 2nd quarter worth about $417,000. Outfitters Financial LLC acquired a new stake in shares of Quantinuum in the second quarter valued at approximately $511,000. Tidal Investments LLC bought a new stake in shares of Quantinuum in the second quarter valued at approximately $1,122,000. Finally, Baird Financial Group Inc. bought a new stake in shares of Quantinuum in the second quarter valued at approximately $1,251,000.
About Quantinuum
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.