Quantinuum (NASDAQ:QNT) Shares Gap Up – Here’s What Happened

by · The Cerbat Gem

Quantinuum Inc. (NASDAQ:QNT – Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $49.65, but opened at $52.04. Quantinuum shares last traded at $51.18, with a volume of 962,213 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on QNT. TD Cowen started coverage on Quantinuum in a report on Monday, June 29th. They set a “buy” rating on the stock. JPMorgan Chase & Co. initiated coverage on Quantinuum in a report on Monday, June 29th. They issued an “overweight” rating and a $97.00 target price for the company. Zacks Research upgraded Quantinuum to a “hold” rating in a report on Tuesday, June 30th. Jefferies Financial Group set a $85.00 price objective on shares of Quantinuum in a report on Wednesday, August 12th. Finally, Morgan Stanley began coverage on shares of Quantinuum in a research note on Monday, June 29th. They set an “equal weight” rating and a $78.00 target price on the stock. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Quantinuum has an average rating of “Moderate Buy” and an average price target of $98.42.

Read Our Latest Report on Quantinuum

Quantinuum Trading Up 5.9%

The stock’s fifty day moving average price is $59.61.

Quantinuum (NASDAQ:QNT – Get Free Report) last announced its quarterly earnings results 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 business had revenue of $8.00 million for the quarter. As a group, analysts forecast that Quantinuum Inc. will post -1.64 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC acquired a new stake in Quantinuum during the second quarter worth approximately $409,000. Outfitters Financial LLC acquired a new stake in shares of Quantinuum during the second quarter worth $511,000. Readystate Asset Management LP acquired a new stake in shares of Quantinuum in the 2nd quarter worth $4,111,000. Finally, Wellington Management Group LLP acquired a new stake in Quantinuum in the second quarter valued at about $92,418,000.

About Quantinuum

(Get Free Report)

Quantinuum is a quantum computing company focused on developing hardware and software for commercial and scientific applications. The company provides access to its quantum systems, along with software tools and services designed to help customers explore use cases in areas such as optimization, materials science, chemistry, cybersecurity, and machine learning.

The company was formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum in 2021. Quantinuum operates internationally and serves a range of customers across enterprise, government, and research markets.

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