Quantinuum (NASDAQ:QNT) Shares Gap Up - What's Next?

Key Points

• Quantinuum shares gapped higher, opening at $55.57 versus a prior close of $51.39, though they later traded around $53.40 on volume of 876,104 shares.
• Analyst sentiment remains broadly positive, with 11 Buy, three Hold and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $98.42.
• Quantinuum reported a quarterly loss of $0.28 per share, missing expectations by $0.02, on $8 million in revenue. Several institutional investors, including Wellington Management, recently established significant positions in the company.

Quantinuum Inc. (NASDAQ:QNT - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $51.39, but opened at $55.57. Quantinuum shares last traded at $53.40, with a volume of 876,104 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on QNT shares. Wall Street Zen lowered 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 Quantinuum in a research report on Wednesday, August 12th. Rosenblatt Securities reissued a "buy" rating and issued a $155.00 price target on shares of Quantinuum in a research note on Wednesday, August 19th. Mizuho initiated 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. Finally, Craig Hallum began coverage on shares of Quantinuum in a report on Monday, June 29th. They set a "buy" rating and a $100.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Quantinuum currently has a consensus rating of "Moderate Buy" and an average price target of $98.42.

Quantinuum Price Performance

The business's fifty day simple moving average is $54.31.

Quantinuum (NASDAQ:QNT - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $8.00 million during the quarter. On average, analysts forecast that Quantinuum Inc. will post -3.84 EPS for the current year.

Institutional Investors Weigh In On Quantinuum

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new position in shares of Quantinuum in the 2nd quarter worth approximately $92,418,000. HBK Investments L P purchased a new stake in Quantinuum in the second quarter valued at approximately $14,669,000. BlueCrest Capital Management Ltd purchased a new stake in Quantinuum in the second quarter valued at approximately $14,304,000. Readystate Asset Management LP acquired a new position in Quantinuum during the second quarter worth $4,111,000. Finally, Light Street Capital Management LLC purchased a new position in shares of Quantinuum during the second quarter worth $2,881,000.

Quantinuum Company Profile

Quantinuum is a quantum computing and technology company formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum. The company develops integrated quantum computing systems, combining quantum hardware, software and applications for business, government and research customers.

Its offerings include trapped-ion quantum computers in the H-Series, quantum software development tools such as TKET, and cybersecurity products including Quantum Origin, which is designed to help generate and protect cryptographic keys.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.