Quantinuum (NASDAQ:QNT) Shares Up 7.4% - Time to Buy?

Key Points

• Quantinuum shares rose 7.4% to $35.47 in mid-day trading, giving the company a market capitalization of approximately $9.51 billion.
• Analyst sentiment is broadly positive: 12 analysts rate the stock Buy, with a consensus rating of “Moderate Buy” and an average price target of $97.08. Recent targets range from $62 to $100.
• The company reported a quarterly loss of $0.28 per share, slightly worse than the $0.26 expected, on $8 million in revenue; analysts project a full-year loss of $4.76 per share.

Quantinuum Inc. (NASDAQ:QNT - Get Free Report)'s share price rose 7.4% during mid-day trading on Thursday. The stock traded as high as $35.65 and last traded at $35.47. Approximately 1,604,200 shares traded hands during trading, a decline of 29% from the average daily volume of 2,263,710 shares. The stock had previously closed at $33.03.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group began coverage on Quantinuum in a research note on Monday, June 29th. They issued a "buy" rating and a $93.00 price target for the company. Jefferies Financial Group set a $85.00 target price on shares of Quantinuum in a research note on Wednesday, August 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 target price on shares of Quantinuum in a research note on Wednesday, August 12th. Morgan Stanley raised Quantinuum from an "equal weight" rating to an "overweight" rating and dropped their price target for the stock from $78.00 to $62.00 in a research note on Thursday. Finally, Sanford C. Bernstein restated a "hold" rating on shares of Quantinuum in a report on Wednesday, August 12th. Twelve research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Quantinuum currently has a consensus rating of "Moderate Buy" and a consensus target price of $97.08.

Quantinuum Stock Up 9.4%

The firm has a fifty day moving average price of $51.09. The firm has a market cap of $9.51 billion and a P/E ratio of -129.00.

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

Institutional Investors Weigh In On Quantinuum

Several institutional investors have recently added to or reduced their stakes in QNT. CoreCap Advisors LLC bought a new stake in shares of Quantinuum in the third quarter worth about $32,000. Steel Grove Capital Advisors LLC raised its stake in Quantinuum by 25.6% during the 3rd 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 during the period. Lisanti Capital Growth LLC purchased a new stake in shares of Quantinuum during the 2nd quarter worth approximately $409,000. Integrated Wealth Concepts LLC purchased a new stake in Quantinuum during the second quarter valued at approximately $417,000. Finally, Outfitters Financial LLC purchased a new position in shares of Quantinuum during the second quarter valued at approximately $511,000.

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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