Quantinuum (NASDAQ:QNT) Shares Gap Up – Should You Buy?

Quantinuum Inc. (NASDAQ:QNT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $49.65, but opened at $52.04. Quantinuum shares last traded at $51.18, with a volume of 962,213 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Quantinuum in a report on Wednesday, August 12th. Morgan Stanley initiated coverage on Quantinuum in a report on Monday, June 29th. They issued an “equal weight” rating and a $78.00 target price for the company. Bank of America assumed coverage on Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 target price for the company. Rosenblatt Securities reiterated a “buy” rating and set a $155.00 price target on shares of Quantinuum in a report on Wednesday, August 19th. Finally, Zacks Research raised shares of Quantinuum to a “hold” rating in a report on Tuesday, June 30th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Quantinuum currently has an average rating of “Moderate Buy” and a consensus target price of $98.42.

Quantinuum Stock Performance

The business has a 50 day moving average of $58.40.

Quantinuum (NASDAQ:QNT) last issued 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 for the quarter. As a group, analysts predict that Quantinuum Inc. will post -1.64 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Lisanti Capital Growth LLC purchased a new stake in shares of Quantinuum during the 2nd quarter worth $409,000. Integrated Wealth Concepts LLC purchased a new position in Quantinuum in the 2nd quarter valued at approximately $417,000. Outfitters Financial LLC purchased a new stake in Quantinuum during the second quarter worth $511,000. Tidal Investments LLC purchased a new position in shares of Quantinuum in the second quarter valued at $1,122,000. Finally, Baird Financial Group Inc. acquired a new stake in Quantinuum in the 2nd quarter valued at about $1,251,000.

About Quantinuum

Quantinuum is a quantum computing and technology company formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum. The company develops integrated quantum computing systems, combining quantum hardware, software and applications for business, government and research customers.

Its offerings include trapped-ion quantum computers in the H-Series, quantum software development tools such as TKET, and cybersecurity products including Quantum Origin, which is designed to help generate and protect cryptographic keys.