Quantinuum (NASDAQ:QNT) Reaches New 52-Week Low - Time to Sell?

Key Points

• Quantinuum shares fell to a new 52-week low of $46.42, well below their 50-day moving average of $53.33.
• Despite the decline, analysts maintain a consensus “Moderate Buy” rating, with an average price target of $98.42; 11 analysts rate the stock Buy, three Hold, and one Sell.
• The company missed its latest earnings estimate, reporting a quarterly loss of $0.28 per share versus expectations of $0.26, on revenue of $8 million.

Shares of Quantinuum Inc. (NASDAQ:QNT - Get Free Report) hit a new 52-week low on Thursday. The company traded as low as $46.42 and last traded at $46.44, with a volume of 866865 shares. The stock had previously closed at $48.06.

Analyst Ratings Changes

A number of research firms have commented on QNT. Sanford C. Bernstein reissued a "hold" rating on shares of Quantinuum in a report on Wednesday, August 12th. Mizuho began 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. Morgan Stanley assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued an "equal weight" rating and a $78.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Quantinuum in a research report on Monday, June 29th. They set an "overweight" rating and a $97.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $90.00 price target on shares of Quantinuum in a research report on Wednesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.42.

Quantinuum Stock Performance

The company has a 50-day moving average price of $53.33.

Quantinuum (NASDAQ:QNT - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $8.00 million for the quarter. Analysts expect that Quantinuum Inc. will post -4.76 EPS for the current year.

Institutional Investors Weigh In On Quantinuum

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lisanti Capital Growth LLC acquired a new stake in Quantinuum during the 2nd quarter valued at $409,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Quantinuum in the second quarter valued at $417,000. Outfitters Financial LLC acquired a new stake in shares of Quantinuum during the second quarter valued at $511,000. Tidal Investments LLC acquired a new stake in shares of Quantinuum during the second quarter valued at $1,122,000. Finally, Baird Financial Group Inc. purchased a new stake in Quantinuum during the 2nd quarter worth about $1,251,000.

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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