Quantinuum (NASDAQ:QNT) Reaches New 12-Month Low – Here’s What Happened

Quantinuum Inc. (NASDAQ:QNT)’s stock price reached a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $44.05 and last traded at $44.62, with a volume of 223118 shares traded. The stock had previously closed at $45.59.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on QNT shares. Zacks Research upgraded shares of Quantinuum to a “hold” rating in a research note on Tuesday, June 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $90.00 target price on shares of Quantinuum in a research report on Wednesday, August 12th. Mizuho assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They set an “outperform” rating and a $90.00 target price on the stock. Craig Hallum started coverage on shares of Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $100.00 price target on the stock. Finally, Wall Street Zen lowered shares of Quantinuum from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $98.42.

Quantinuum Stock Performance

The firm’s fifty day simple moving average is $52.79. The stock has a market cap of $11.62 billion and a price-to-earnings ratio of -157.61.

Quantinuum (NASDAQ:QNT) last released 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 company had revenue of $8.00 million during the quarter. Research analysts predict that Quantinuum Inc. will post -4.76 earnings per share for the current year.

Institutional Trading of Quantinuum

A number of hedge funds and other institutional investors have recently made changes to their positions in QNT. Wellington Management Group LLP acquired a new stake in Quantinuum during the second quarter valued at approximately $92,418,000. HBK Investments L P acquired a new position in Quantinuum in the second quarter worth approximately $14,669,000. BlueCrest Capital Management Ltd bought a new position in shares of Quantinuum in the second quarter valued at $14,304,000. Readystate Asset Management LP bought a new position in shares of Quantinuum in the second quarter valued at $4,111,000. Finally, Light Street Capital Management LLC acquired a new stake in shares of Quantinuum during the 2nd quarter valued at $2,881,000.

Quantinuum Company Profile

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.