Analysts Set Quantinuum Inc. (NASDAQ:QNT) PT at $98.42

Shares of Quantinuum Inc. (NASDAQ:QNT) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $98.4167.

QNT has been the topic of several analyst reports. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Quantinuum in a report on Wednesday, August 12th. 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. Jefferies Financial Group set a $85.00 target price on Quantinuum in a research note on Wednesday, August 12th. 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. Finally, Zacks Research raised shares of Quantinuum to a “hold” rating in a report on Tuesday, June 30th.

Insider Activity

In related news, insider Kevin Scott Dehoff purchased 15,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, for a total transaction of $900,000.00. Following the purchase, the insider directly owned 126,460 shares in the company, valued at $7,587,600. This trade represents a 13.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Jimenez acquired 66,665 shares of the company’s stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $60.00 per share, with a total value of $3,999,900.00. Following the acquisition, the director directly owned 72,498 shares in the company, valued at approximately $4,349,880. The trade was a 1,142.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 411,032 shares of company stock valued at $24,661,920 in the last quarter.

Hedge Funds Weigh In On Quantinuum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC purchased a new position in Quantinuum during the 2nd quarter valued at approximately $409,000. Outfitters Financial LLC purchased a new stake in shares of Quantinuum during the 2nd quarter worth approximately $511,000. Readystate Asset Management LP purchased a new stake in shares of Quantinuum during the 2nd quarter worth approximately $4,111,000. Finally, Wellington Management Group LLP bought a new position in shares of Quantinuum during the 2nd quarter valued at approximately $92,418,000.

Quantinuum Stock Down 8.0%

NASDAQ QNT opened at $52.07 on Tuesday. Quantinuum has a 52 week low of $47.06 and a 52 week high of $86.79. The company’s 50-day simple moving average is $63.41.

Quantinuum (NASDAQ:QNT) last issued its quarterly 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 firm had revenue of $8.00 million for the quarter. Sell-side analysts forecast that Quantinuum will post -1.64 EPS for the current fiscal year.

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.