Quantinuum Inc. (NASDAQ:QNT) Stock Has Average Price Target of $98.42 According to Brokerages

Shares of Quantinuum Inc. (NASDAQ:QNT) have been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $98.42.

QNT has been the subject of several recent research reports. Mizuho assumed coverage on shares of Quantinuum in a report on Monday, June 29th. They set an “outperform” rating and a $90.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $90.00 price target on shares of Quantinuum in a research note on Wednesday, August 12th. Weiss Ratings assumed coverage on Quantinuum in a research report on Monday, August 31st. They set a “sell (d)” rating for the company. JPMorgan Chase & Co. began coverage on Quantinuum in a research note on Monday, June 29th. They set an “overweight” rating and a $97.00 price objective for the company. Finally, Jefferies Financial Group set a $85.00 price objective on Quantinuum in a research note on Wednesday, August 12th.

Hedge Funds Weigh In On Quantinuum

Several large investors have recently modified their holdings of QNT. Wellington Management Group LLP bought a new stake in shares of Quantinuum during the second quarter valued at approximately $92,418,000. HBK Investments L P purchased a new position in Quantinuum in the 2nd quarter worth approximately $14,669,000. BlueCrest Capital Management Ltd bought a new position in Quantinuum in the 2nd quarter valued at approximately $14,304,000. Readystate Asset Management LP bought a new position in Quantinuum in the 2nd quarter valued at approximately $4,111,000. Finally, Light Street Capital Management LLC purchased a new stake in Quantinuum during the 2nd quarter valued at $2,881,000.

Quantinuum Trading Down 7.0%

NASDAQ:QNT opened at $36.76 on Wednesday. The stock has a 50-day simple moving average of $51.57. Quantinuum has a 1-year low of $36.32 and a 1-year high of $86.79.

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

About Quantinuum

Quantinuum is a quantum computing and quantum information technology company that develops full-stack quantum computing systems, software and cybersecurity solutions. Its business combines trapped-ion quantum computing hardware with software designed to help organizations develop, test and run quantum applications.

The company offers quantum computing systems and related cloud access, as well as software products for quantum programming, algorithm development and chemistry research. Its portfolio has included the TKET software development toolkit, InQuanto for quantum chemistry and materials modeling, and Quantum Origin, a platform focused on quantum-enhanced cybersecurity and cryptographic key generation.