Quantinuum (NASDAQ:QNT) Stock Jumps 7.7% - Here's Why

Key Points

• Quantinuum shares rose 7.7% to $38.43 in mid-day trading, although volume was 58% below the average session level.
• Analysts remain broadly bullish: 13 rate the stock Buy, with a consensus “Moderate Buy” rating and an average price target of $94.23.
• The company reported quarterly revenue of $8 million and an adjusted loss of $0.28 per share, missing the consensus estimate by $0.02; analysts expect a full-year loss of $4.76 per share.

Quantinuum Inc. (NASDAQ:QNT - Get Free Report)'s share price shot up 7.7% during mid-day trading on Wednesday. The company traded as high as $38.58 and last traded at $38.43. 967,756 shares were traded during trading, a decline of 58% from the average session volume of 2,316,811 shares. The stock had previously closed at $35.68.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on QNT shares. TD Cowen assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They set a "buy" rating on the stock. JPMorgan Chase & Co. started coverage on Quantinuum in a research report on Monday, June 29th. They set an "overweight" rating and a $97.00 target price for the company. Yorkville Ives initiated coverage on Quantinuum in a research note on Monday, October 5th. They issued an "outperform" rating and a $60.00 price target on the stock. Morgan Stanley raised shares of Quantinuum from an "equal weight" rating to an "overweight" rating and reduced their price target for the stock from $78.00 to $62.00 in a research report on Thursday, October 15th. Finally, Evercore assumed coverage on Quantinuum in a report on Monday, June 29th. They set an "outperform" rating and a $98.00 target price for the company. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $94.23.

Quantinuum Stock Up 10.5%

The firm has a fifty day simple moving average of $49.36. The company has a market cap of $10.38 billion and a P/E ratio of -140.79.

Quantinuum (NASDAQ:QNT - Get Free Report) last released its 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. Analysts forecast that Quantinuum Inc. will post -4.76 EPS for the current year.

Institutional Investors Weigh In On Quantinuum

A number of large investors have recently added to or reduced their stakes in QNT. IFP Advisors Inc raised its holdings 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. Counterpoint Mutual Funds LLC purchased a new stake in Quantinuum in the third quarter worth about $408,000. Vontobel Holding Ltd. purchased a new position in Quantinuum during the third quarter valued at $743,000. Parisi Gray Wealth Management raised its position in shares of Quantinuum by 508.7% in the 3rd quarter. Parisi Gray Wealth Management now owns 18,717 shares of the company's stock worth $900,000 after purchasing an additional 15,642 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC boosted 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 last quarter.

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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