Quantinuum (NASDAQ:QNT) Hits New 52-Week Low – Time to Sell?

Quantinuum Inc. (NASDAQ:QNT) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $46.65 and last traded at $47.63, with a volume of 102658 shares trading hands. The stock had previously closed at $47.66.

Wall Street Analysts Forecast Growth

QNT has been the subject of a number of research reports. Zacks Research raised shares of Quantinuum to a “hold” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. started coverage on Quantinuum in a report on Monday, June 29th. They set an “overweight” rating and a $97.00 price objective for the company. Jefferies Financial Group set a $85.00 price objective on Quantinuum in a research report on Wednesday, August 12th. Mizuho assumed coverage on Quantinuum in a research note on Monday, June 29th. They issued an “outperform” rating and a $90.00 target price on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $90.00 price target on shares of Quantinuum in a research note on Wednesday, August 12th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Quantinuum presently has an average rating of “Moderate Buy” and an average target price of $98.42.

Quantinuum Trading Up 0.9%

The stock has a fifty day simple moving average of $61.52.

Quantinuum (NASDAQ:QNT) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) 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. As a group, equities analysts expect that Quantinuum Inc. will post -1.64 earnings per share for the current year.

Insider Activity

In other news, insider Kevin Scott Dehoff purchased 15,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, for a total transaction of $900,000.00. Following the completion of the transaction, the insider directly owned 126,460 shares in the company, valued at approximately $7,587,600. This represents a 13.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth D. Denman bought 14,000 shares of Quantinuum stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $60.00 per share, for a total transaction of $840,000.00. Following the completion of the acquisition, the director directly owned 19,833 shares in the company, valued at $1,189,980. This represents a 240.01% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 411,032 shares of company stock valued at $24,661,920.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Lisanti Capital Growth LLC acquired a new stake in Quantinuum in the second quarter worth about $409,000. Outfitters Financial LLC acquired a new position in Quantinuum during the 2nd quarter valued at about $511,000. Readystate Asset Management LP acquired a new position in Quantinuum during the 2nd quarter valued at about $4,111,000. Finally, Wellington Management Group LLP bought a new position in shares of Quantinuum in the 2nd quarter valued at about $92,418,000.

About Quantinuum

Quantinuum is a quantum computing company focused on developing hardware and software for commercial and scientific applications. The company provides access to its quantum systems, along with software tools and services designed to help customers explore use cases in areas such as optimization, materials science, chemistry, cybersecurity, and machine learning.

The company was formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum in 2021. Quantinuum operates internationally and serves a range of customers across enterprise, government, and research markets.