Quantinuum (NASDAQ:QNT) Stock Price Down 4.6% - Here's Why

Key Points

• Quantinuum shares fell 4.6% to $41.01, with trading volume 24% below its average; the article does not identify a specific cause for the decline.
• Analyst views remain broadly positive, with a consensus “Moderate Buy” rating and an $81.77 price target, though JPMorgan and Needham recently cut their targets to $80 and $60, respectively.
• For the latest quarter, Quantinuum reported a loss of $0.29 per share, beating analyst estimates of a $0.99 loss, and revenue of $9.05 million.

Quantinuum Inc. (NASDAQ:QNT - Get Free Report)'s stock price traded down 4.6% during trading on Wednesday. The company traded as low as $40.90 and last traded at $41.01. Approximately 1,777,145 shares were traded during trading, a decline of 24% from the average daily volume of 2,324,137 shares. The stock had previously closed at $43.00.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $155.00 price objective on shares of Quantinuum in a report on Thursday, October 22nd. Wall Street Zen raised Quantinuum from a "sell" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. dropped their target price on Quantinuum from $97.00 to $80.00 and set an "overweight" rating for the company in a research report on Friday, November 6th. Needham & Company LLC cut their price target on Quantinuum from $100.00 to $60.00 and set a "buy" rating on the stock in a research note on Friday, November 6th. Finally, Weiss Ratings initiated coverage on Quantinuum in a report on Monday, August 31st. They issued a "sell (d)" rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Quantinuum presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.77.

Quantinuum Trading Down 5.0%

The firm has a market capitalization of $10.75 billion and a price-to-earnings ratio of -145.86. The business has a 50 day simple moving average of $43.07.

Quantinuum (NASDAQ:QNT - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.99) by $0.70. The business had revenue of $9.05 million during the quarter. As a group, equities research analysts expect that Quantinuum Inc. will post -4.76 earnings per share for the current fiscal year.

Institutional Trading of Quantinuum

A number of large investors have recently bought and sold shares of QNT. Wellington Management Group LLP bought a new position in Quantinuum in the second quarter valued at approximately $92,418,000. HBK Investments L P bought a new stake in shares of Quantinuum during the second quarter worth $14,669,000. BlueCrest Capital Management Ltd bought a new stake in shares of Quantinuum during the second quarter worth $14,304,000. Readystate Asset Management LP acquired a new stake in shares of Quantinuum during the second quarter worth $4,111,000. Finally, Light Street Capital Management LLC acquired a new stake in shares of Quantinuum during the second quarter worth $2,881,000.

Quantinuum Company Profile

Quantinuum develops quantum computers, software and cybersecurity products for businesses, researchers and government organizations. Its work includes trapped-ion quantum systems, tools for programming and managing quantum applications, and services focused on quantum chemistry and data security. The company was formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum, bringing together quantum hardware and software capabilities. Its offerings include the H-series quantum computers, the TKET software development kit and InQuanto, a platform for quantum chemistry research.

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