Quantinuum (NASDAQ:QNT) Shares Gap Up - Still a Buy?

Key Points

• Quantinuum shares opened higher, rising from a prior close of $36.55 to $38.78 before trading recently at $37.37. The company has a market capitalization of approximately $9.8 billion.
• Analyst sentiment remains broadly positive: 12 analysts rate the stock a Buy, two rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $97.08.
• Quantinuum reported a quarterly loss of $0.28 per share, missing the $0.26 consensus estimate, on revenue of $8 million; analysts expect a full-year loss of $4.76 per share.

Quantinuum Inc. (NASDAQ:QNT - Get Free Report) shares gapped up before the market opened on Monday. The stock had previously closed at $36.55, but opened at $38.78. Quantinuum shares last traded at $37.37, with a volume of 519,108 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $90.00 price target on shares of Quantinuum in a research note on Wednesday, August 12th. Wall Street Zen cut shares of Quantinuum from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Jefferies Financial Group set a $85.00 target price on shares of Quantinuum in a report on Wednesday, August 12th. Morgan Stanley raised shares of Quantinuum from an "equal weight" rating to an "overweight" rating and cut their target price for the stock from $78.00 to $62.00 in a research report on Thursday. Finally, 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. Twelve research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.08.

Quantinuum Trading Up 1.9%

The stock has a 50-day moving average price of $50.20. The company has a market cap of $9.80 billion and a price-to-earnings ratio of -132.96.

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

Hedge Funds Weigh In On Quantinuum

Large investors have recently made changes to their positions in the business. CoreCap Advisors LLC bought a new stake in shares of Quantinuum during the third quarter valued at approximately $32,000. IFP Advisors Inc lifted its stake in Quantinuum by 1,150.0% in the 3rd quarter. IFP Advisors Inc now owns 1,250 shares of the company's stock worth $60,000 after purchasing an additional 1,150 shares in the last quarter. Steel Grove Capital Advisors LLC grew its position in shares of Quantinuum by 25.6% during the third quarter. Steel Grove Capital Advisors LLC now owns 5,992 shares of the company's stock valued at $288,000 after purchasing an additional 1,222 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Quantinuum in the second quarter worth about $409,000. Finally, Integrated Wealth Concepts LLC bought a new position in Quantinuum during the second quarter valued at approximately $417,000.

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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