Quantinuum (NASDAQ:QNT) Reaches New 1-Year Low - Here's Why

Key Points

• Quantinuum shares fell to a new 52-week low of $44.05, last trading at $44.62, below the prior close of $45.59. The stock’s market capitalization is approximately $11.62 billion.
• Analysts remain broadly optimistic, with a consensus rating of “Moderate Buy” and an average price target of $98.42. Recent targets range from $78 at Morgan Stanley to $155 at Rosenblatt Securities.
• The company reported a quarterly loss of $0.28 per share, missing estimates by $0.02, on revenue of $8 million. Several institutional investors also established new positions in Quantinuum during the second and third quarters.

Quantinuum Inc. (NASDAQ:QNT - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $44.05 and last traded at $44.62, with a volume of 223118 shares traded. The stock had previously closed at $45.59.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on QNT. Zacks Research upgraded shares of Quantinuum to a "hold" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. initiated coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued an "overweight" rating and a $97.00 price target on the stock. Mizuho assumed coverage on shares of Quantinuum in a report on Monday, June 29th. They issued an "outperform" rating and a $90.00 price target for the company. Rosenblatt Securities reiterated a "buy" rating and set a $155.00 price objective on shares of Quantinuum in a research note on Wednesday, August 19th. Finally, Morgan Stanley initiated coverage on shares of Quantinuum in a report on Monday, June 29th. They issued 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Quantinuum has a consensus rating of "Moderate Buy" and an average target price of $98.42.

Quantinuum Price Performance

The company has a market capitalization of $11.62 billion and a PE ratio of -157.61. The business has a 50-day simple moving average of $52.79.

Quantinuum (NASDAQ:QNT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share (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. On average, analysts anticipate that Quantinuum Inc. will post -4.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Lisanti Capital Growth LLC bought a new stake in shares of Quantinuum during the second quarter valued at approximately $409,000. Integrated Wealth Concepts LLC bought a new position in Quantinuum in the 2nd quarter worth approximately $417,000. Outfitters Financial LLC bought a new position in Quantinuum in the 2nd quarter worth approximately $511,000. Moody National Bank Trust Division acquired a new stake in Quantinuum in the 3rd quarter valued at approximately $525,000. Finally, Tidal Investments LLC bought a new stake in Quantinuum during the 2nd quarter valued at $1,122,000.

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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