Quantinuum (NASDAQ:QNT) Reaches New 1-Year Low - What's Next?

Key Points

• Quantinuum shares fell to a new 52-week low of $39.15, closing near $39.52 after previously ending at $41.30.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $98.42, despite one firm downgrading the stock to “sell.”
• The company reported a quarterly loss of $0.28 per share, missing estimates by $0.02, on revenue of $8 million; analysts expect a full-year loss of $4.76 per share.

Shares of Quantinuum Inc. (NASDAQ:QNT - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $39.15 and last traded at $39.52, with a volume of 1,544,705 shares traded. The stock had previously closed at $41.30.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Mizuho started coverage on Quantinuum in a report on Monday, June 29th. They issued an "outperform" rating and a $90.00 price objective on the stock. Zacks Research raised shares of Quantinuum to a "hold" rating in a research report on Tuesday, June 30th. Needham & Company LLC restated a "buy" rating and issued a $100.00 price target on shares of Quantinuum in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of Quantinuum from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. Finally, Craig Hallum initiated coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a "buy" rating and a $100.00 price objective for the company. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Quantinuum presently has a consensus rating of "Moderate Buy" and an average price target of $98.42.

Quantinuum Stock Performance

The firm has a market capitalization of $10.41 billion and a PE ratio of -141.14. The firm's 50 day simple moving average is $52.00.

Quantinuum (NASDAQ:QNT - Get Free Report) last issued its quarterly earnings data 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 during the quarter. As a group, equities research analysts forecast that Quantinuum Inc. will post -4.76 EPS for the current year.

Institutional Inflows and Outflows

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

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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