Quantinuum (NASDAQ:QNT) Posts Earnings Results, Misses Expectations By $0.02 EPS

Quantinuum (NASDAQ:QNT) released its quarterly earnings data on Tuesday. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02), FiscalAI reports. The company had revenue of $8.00 million for the quarter.

Quantinuum Price Performance

Shares of QNT traded down $0.53 during trading hours on Tuesday, hitting $56.06. The company had a trading volume of 1,492,899 shares, compared to its average volume of 2,662,900. The stock has a fifty day moving average price of $62.84. Quantinuum has a 12 month low of $47.06 and a 12 month high of $86.79.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on QNT shares. TD Cowen began coverage on Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating for the company. Needham & Company LLC began coverage on Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 target price on the stock. UBS Group initiated coverage on Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $93.00 price target for the company. Craig Hallum started coverage on shares of Quantinuum in a research note on Monday, June 29th. They set a “buy” rating and a $100.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued an “overweight” rating and a $97.00 price objective on the stock. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.75.

Insider Buying and Selling at Quantinuum

In related news, Director Kenneth D. Denman purchased 14,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, for a total transaction of $840,000.00. Following the purchase, the director owned 19,833 shares in the company, valued at approximately $1,189,980. This represents a 240.01% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kevin Scott Dehoff acquired 15,000 shares of Quantinuum stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $60.00 per share, with a total value of $900,000.00. Following the acquisition, the insider owned 126,460 shares of the company’s stock, valued at approximately $7,587,600. This trade represents a 13.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 411,032 shares of company stock worth $24,661,920 in the last ninety days.

Hedge Funds Weigh In On Quantinuum

An institutional investor recently bought a new stake in Quantinuum stock. Lisanti Capital Growth LLC acquired a new position in Quantinuum Inc. (NASDAQ:QNT) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,005 shares of the company’s stock, valued at approximately $409,000.

About Quantinuum

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.