Rosenblatt Securities Reaffirms “Buy” Rating for Quantinuum (NASDAQ:QNT)

Quantinuum (NASDAQ:QNT)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $155.00 price target on the stock. Rosenblatt Securities‘s price target would indicate a potential upside of 333.81% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Zacks Research raised shares of Quantinuum to a “hold” rating in a research note on Tuesday, June 30th. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Quantinuum in a research note on Wednesday, August 12th. Craig Hallum assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 price objective on the stock. Weiss Ratings assumed coverage on shares of Quantinuum in a research note on Monday, August 31st. They issued a “sell (d)” rating on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued an “overweight” rating and a $97.00 price objective on the stock. Thirteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.23.

Quantinuum Stock Performance

NASDAQ QNT traded down $2.92 on Thursday, hitting $35.73. The company’s stock had a trading volume of 1,630,839 shares, compared to its average volume of 2,320,372. Quantinuum has a 1-year low of $33.02 and a 1-year high of $86.79. The stock’s 50-day simple moving average is $48.70. The company has a market capitalization of $9.41 billion and a price-to-earnings ratio of -127.61.

Quantinuum (NASDAQ:QNT) last announced 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 business had revenue of $8.00 million for the quarter. As a group, research analysts expect that Quantinuum will post -4.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC bought a new position in Quantinuum during the third quarter worth $32,000. IFP Advisors Inc boosted its stake in Quantinuum by 1,150.0% during the third quarter. IFP Advisors Inc now owns 1,250 shares of the company’s stock worth $60,000 after acquiring an additional 1,150 shares in the last quarter. Lisanti Capital Growth LLC bought a new position in Quantinuum during the second quarter worth $409,000. Integrated Wealth Concepts LLC bought a new position in Quantinuum during the second quarter worth $417,000. Finally, Steel Grove Capital Advisors LLC boosted its stake in Quantinuum by 25.6% during the third quarter. Steel Grove Capital Advisors LLC now owns 5,992 shares of the company’s stock worth $288,000 after acquiring an additional 1,222 shares in the last quarter.

Quantinuum Company Profile

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.