Quantinuum (NASDAQ:QNT) Reaches New 1-Year Low - Should You Sell?

Key Points

• Quantinuum hit a new 52-week low, falling to $30.53 during Thursday trading and last trading at $30.99, below its prior close of $32.75.
• Analyst views are mostly positive but mixed: 13 analysts rate the stock Buy, two Hold and one Sell, producing a “Moderate Buy” consensus and a $94.23 average price target.
• The company reported a quarterly loss of $0.28 per share, missing estimates of a $0.26 loss, on revenue of $8 million.

Quantinuum Inc. (NASDAQ:QNT - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $30.53 and last traded at $30.99, with a volume of 213,601 shares trading hands. The stock had previously closed at $32.75.

Analysts Set New Price Targets

Several equities research analysts have recently commented on QNT shares. Jefferies Financial Group set a $85.00 price target on Quantinuum in a research note on Wednesday, August 12th. Weiss Ratings started coverage on Quantinuum in a research note on Monday, August 31st. They issued a "sell (d)" rating for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Quantinuum in a research note on Wednesday, August 12th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $90.00 price objective on shares of Quantinuum in a report on Wednesday, August 12th. Finally, Yorkville Ives started coverage on Quantinuum in a research report on Monday, October 5th. They set an "outperform" rating and a $60.00 target price on the stock. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.23.

Quantinuum Price Performance

The company has a market cap of $7.69 billion and a price-to-earnings ratio of -104.32. The firm has a fifty day moving average price of $44.20.

Quantinuum (NASDAQ:QNT - Get Free Report) last issued its 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 company had revenue of $8.00 million during the quarter. As a group, research analysts anticipate that Quantinuum Inc. will post -4.76 earnings per share for the current year.

Institutional Trading of Quantinuum

A number of hedge funds have recently made changes to their positions in QNT. State of Wyoming acquired a new stake in Quantinuum in the 3rd quarter valued at about $378,000. Flagship Harbor Advisors LLC purchased a new position in shares of Quantinuum during the third quarter valued at $206,000. McGuire Investment Group LLC increased its holdings in shares of Quantinuum by 1,892.4% in the 3rd quarter. McGuire Investment Group LLC now owns 57,360 shares of the company's stock valued at $2,757,000 after purchasing an additional 54,481 shares during the period. Canton Hathaway LLC lifted its position in Quantinuum by 21.5% in the 3rd quarter. Canton Hathaway LLC now owns 22,748 shares of the company's stock worth $1,093,000 after buying an additional 4,023 shares in the last quarter. Finally, Outfitters Financial LLC boosted its position in Quantinuum by 180.0% during the third quarter. Outfitters Financial LLC now owns 17,500 shares of the company's stock valued at $841,000 after purchasing an additional 11,250 shares during the last quarter.

About Quantinuum

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.

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