Quantinuum’s (QNT) Buy Rating Reaffirmed at Rosenblatt Securities

Quantinuum (NASDAQ:QNT)‘s stock had its “buy” rating reissued by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $155.00 price objective on the stock. Rosenblatt Securities‘s target price indicates a potential upside of 306.93% from the stock’s previous close.

Several other equities analysts have also weighed in on QNT. Jefferies Financial Group set a $85.00 target price on shares of Quantinuum in a report on Wednesday, August 12th. UBS Group began coverage on Quantinuum in a report on Monday, June 29th. They issued a “buy” rating and a $93.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Quantinuum in a research report on Monday, June 29th. They issued an “overweight” rating and a $97.00 price objective on the stock. Yorkville Ives began coverage on Quantinuum in a research note on Monday, October 5th. They set an “outperform” rating and a $60.00 price objective on the stock. Finally, Mizuho began coverage on Quantinuum in a research report on Monday, June 29th. They issued an “outperform” rating and a $90.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Quantinuum currently has an average rating of “Moderate Buy” and an average price target of $94.23.

Quantinuum Stock Performance

Shares of NASDAQ:QNT traded up $1.59 during trading on Thursday, reaching $38.09. 948,448 shares of the stock were exchanged, compared to its average volume of 2,301,906. The company has a 50-day moving average price of $47.51. The firm has a market capitalization of $10.03 billion and a price-to-earnings ratio of -136.04. Quantinuum has a 12-month low of $33.02 and a 12-month high of $86.79.

Quantinuum (NASDAQ:QNT) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) 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 expect that Quantinuum will post -4.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quantinuum

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