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

Quantinuum (NASDAQ:QNT)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a research note issued to investors on Thursday, Benzinga reports. They currently have a $155.00 price target on the stock. Rosenblatt Securities‘s price target indicates a potential upside of 332.96% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Quantinuum from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Bank of America began coverage on shares of Quantinuum in a research note on Monday, June 29th. They set a “buy” rating and a $100.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Quantinuum in a research note on Wednesday, August 12th. Jefferies Financial Group set a $85.00 price target on Quantinuum in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. assumed coverage on Quantinuum in a report on Monday, June 29th. They issued an “overweight” rating and a $97.00 price target for the company. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $94.23.

Quantinuum Stock Down 7.4%

Shares of Quantinuum stock traded down $2.85 on Thursday, hitting $35.80. The company’s stock had a trading volume of 1,740,217 shares, compared to its average volume of 2,321,437. The stock has a market cap of $9.43 billion and a P/E ratio of -127.86. Quantinuum has a 52-week low of $33.02 and a 52-week high of $86.79. The business has a fifty day moving average of $48.70.

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

Institutional Trading of Quantinuum

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new stake in Quantinuum during the 2nd quarter worth about $92,418,000. HBK Investments L P purchased a new stake in Quantinuum during the 2nd quarter worth about $14,669,000. BlueCrest Capital Management Ltd purchased a new stake in Quantinuum during the 2nd quarter worth about $14,304,000. Readystate Asset Management LP purchased a new stake in Quantinuum during the 2nd quarter worth about $4,111,000. Finally, Light Street Capital Management LLC purchased a new stake in Quantinuum during the 2nd quarter worth about $2,881,000.

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.