Quantinuum Inc. (NASDAQ:QNT) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Quantinuum, with 11 buy ratings and three holds among 14 firms. The average 12-month price target is $98.42, well above the stock’s $66.01 opening price.
• Quantinuum’s latest quarterly results fell slightly short of expectations, reporting a loss of $0.28 per share versus the $0.26 consensus estimate, alongside $8 million in revenue.
• Insiders showed confidence in the company, purchasing 411,032 shares worth about $24.7 million during the last quarter; an institutional investor also initiated a position valued at approximately $409,000.

Shares of Quantinuum Inc. (NASDAQ:QNT - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fourteen research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $98.4167.

Several research firms have recently weighed in on QNT. Sanford C. Bernstein reissued a "hold" rating on shares of Quantinuum in a research report on Wednesday, August 12th. Evercore assumed coverage on shares of Quantinuum in a research report on Monday, June 29th. They set an "outperform" rating and a $98.00 target price on the stock. Jefferies Financial Group set a $85.00 target price on shares of Quantinuum in a research note on Wednesday, August 12th. TD Cowen began coverage on shares of Quantinuum in a report on Monday, June 29th. They issued a "buy" rating for the company. Finally, Bank of America 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.

Quantinuum Stock Up 3.8%

NASDAQ QNT opened at $66.01 on Tuesday. Quantinuum has a twelve month low of $47.06 and a twelve month high of $86.79. The business's 50-day simple moving average is $63.35.

Quantinuum (NASDAQ:QNT - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $8.00 million during the quarter. As a group, analysts expect that Quantinuum will post -1.64 EPS for the current year.

Insiders Place Their Bets

In other news, Director Michal Stepniak purchased 13,333 shares of the business's stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $60.00 per share, with a total value of $799,980.00. Following the acquisition, the director directly owned 13,333 shares in the company, valued at approximately $799,980. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kevin Scott Dehoff acquired 15,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $60.00 per share, with a total value of $900,000.00. Following the transaction, the insider directly owned 126,460 shares in the company, valued at approximately $7,587,600. This trade represents a 13.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 411,032 shares of company stock valued at $24,661,920 in the last quarter.

Institutional Trading of Quantinuum

An institutional investor recently bought a new position in Quantinuum stock. Lisanti Capital Growth LLC bought a new position in Quantinuum Inc. (NASDAQ:QNT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,005 shares of the company's stock, valued at approximately $409,000.

Quantinuum Company Profile

Quantinuum is a quantum computing company focused on developing hardware and software for commercial and scientific applications. The company provides access to its quantum systems, along with software tools and services designed to help customers explore use cases in areas such as optimization, materials science, chemistry, cybersecurity, and machine learning.

The company was formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum in 2021. Quantinuum operates internationally and serves a range of customers across enterprise, government, and research markets.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source