Quantinuum (NASDAQ:QNT) Reaches New 52-Week Low - Here's What Happened

Key Points

• Quantinuum shares fell 11.1%, reaching a new 52-week low of $32.91 and closing near $33.21, well below the 50-day moving average of $45.96.
• The company reported quarterly revenue of $8 million and an adjusted loss of $0.28 per share, missing analysts’ expected loss of $0.26; analysts forecast a full-year loss of $4.76 per share.
• Despite the sell-off, analyst sentiment remains a “Moderate Buy”, with an average price target of $94.23, while several major hedge funds recently established or increased positions in the company.

Shares of Quantinuum Inc. (NASDAQ:QNT - Get Free Report) hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $32.91 and last traded at $33.21, with a volume of 2,008,151 shares. The stock had previously closed at $37.49.

Analysts Set New Price Targets

QNT has been the topic of a number of research analyst reports. Weiss Ratings started coverage on shares of Quantinuum in a research note on Monday, August 31st. They set a "sell (d)" rating on the stock. Wall Street Zen downgraded shares of Quantinuum from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Cantor Fitzgerald restated an "overweight" rating and issued a $90.00 price target on shares of Quantinuum in a research report on Wednesday, August 12th. Yorkville Ives began coverage on Quantinuum in a research note on Monday, October 5th. They issued an "outperform" rating and a $60.00 target price on the stock. Finally, Rosenblatt Securities reissued a "buy" rating and set a $155.00 price objective on shares of Quantinuum in a report on Thursday, October 22nd. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Quantinuum presently has an average rating of "Moderate Buy" and an average target price of $94.23.

Quantinuum Trading Down 11.1%

The stock has a market capitalization of $8.78 billion and a P/E ratio of -119.07. The company's fifty day simple moving average is $45.96.

Quantinuum (NASDAQ:QNT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $8.00 million during the quarter. Sell-side analysts predict that Quantinuum Inc. will post -4.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Quantinuum

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in Quantinuum during the second quarter worth approximately $92,418,000. HBK Investments L P bought a new position in Quantinuum during the second quarter valued at $14,669,000. BlueCrest Capital Management Ltd purchased a new position in shares of Quantinuum in the second quarter worth about $14,304,000. McGuire Investment Group LLC boosted its stake in Quantinuum by 1,892.4% in the 3rd quarter. McGuire Investment Group LLC now owns 57,360 shares of the company's stock worth $2,757,000 after purchasing an additional 54,481 shares during the period. Finally, Readystate Asset Management LP purchased a new stake in Quantinuum in the 2nd quarter worth approximately $4,111,000.

Quantinuum Company Profile

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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