Quantinuum (NASDAQ:QNT) Stock Rating Reaffirmed as “Buy” by Rosenblatt Securities

Quantinuum (NASDAQ:QNT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Rosenblatt Securities in a report issued on Thursday, Benzinga reports. They presently have a $155.00 target price on the stock. Rosenblatt Securities‘s target price suggests a potential upside of 320.05% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Quantinuum from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Zacks Research upgraded Quantinuum to a “hold” rating in a report on Tuesday, June 30th. Bank of America started coverage on Quantinuum in a research note on Monday, June 29th. They set a “buy” rating and a $100.00 target price for the company. Jefferies Financial Group set a $85.00 price target on Quantinuum in a report on Wednesday, August 12th. Finally, TD Cowen started coverage on Quantinuum in a report on Monday, June 29th. They issued a “buy” rating on the stock. Thirteen 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.23.

Quantinuum Trading Up 2.8%

Shares of QNT traded up $1.00 during mid-day trading on Thursday, hitting $36.90. 486,000 shares of the stock were exchanged, compared to its average volume of 2,308,769. The stock has a 50-day simple moving average of $48.05. The stock has a market cap of $9.72 billion and a P/E ratio of -131.79. Quantinuum has a 52-week low of $33.02 and a 52-week high of $86.79.

Quantinuum (NASDAQ:QNT) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $8.00 million during the quarter. On average, analysts predict that Quantinuum will post -4.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Quantinuum

Hedge funds and other institutional investors have recently made changes to their positions in the company. CoreCap Advisors LLC bought a new stake in Quantinuum in the 3rd quarter valued at $32,000. IFP Advisors Inc increased its stake in Quantinuum by 1,150.0% in the 3rd quarter. IFP Advisors Inc now owns 1,250 shares of the company’s stock valued at $60,000 after buying an additional 1,150 shares during the last quarter. Steel Grove Capital Advisors LLC increased its stake in shares of Quantinuum by 25.6% during the 3rd quarter. Steel Grove Capital Advisors LLC now owns 5,992 shares of the company’s stock worth $288,000 after purchasing an additional 1,222 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Quantinuum by 52.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 6,778 shares of the company’s stock worth $326,000 after purchasing an additional 2,343 shares during the last quarter. Finally, Canton Hathaway LLC boosted its holdings in shares of Quantinuum by 21.5% during the 3rd quarter. Canton Hathaway LLC now owns 22,748 shares of the company’s stock worth $1,093,000 after buying an additional 4,023 shares during the period.

About Quantinuum

Quantinuum is a quantum computing company formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum. The company develops full-stack quantum computing technologies designed to support research and commercial applications across industries, including chemistry, materials science, cybersecurity, finance and artificial intelligence.

Its offerings include trapped-ion quantum computers, quantum software and development tools. Quantinuum’s software portfolio includes the TKET quantum compiler, InQuanto quantum chemistry platform, Quantum Origin quantum-enhanced cybersecurity solutions and the Nexus platform for developing and managing quantum applications.