Quantinuum (NASDAQ:QNT) Reaches New 1-Year Low – Here’s What Happened

Quantinuum Inc. (NASDAQ:QNT) shares reached a new 52-week low during trading on Tuesday. The company traded as low as $39.15 and last traded at $39.52, with a volume of 1,544,705 shares trading hands. The stock had previously closed at $41.30.

Analyst Ratings Changes

Several brokerages recently commented on QNT. Mizuho started coverage on Quantinuum in a research note on Monday, June 29th. They set an “outperform” rating and a $90.00 price objective on the stock. Craig Hallum began coverage on Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 target price for the company. Zacks Research upgraded Quantinuum to a “hold” rating in a report on Tuesday, June 30th. Rosenblatt Securities restated a “buy” rating and issued a $155.00 price target on shares of Quantinuum in a report on Wednesday, August 19th. Finally, JPMorgan Chase & Co. began coverage on Quantinuum in a report on Monday, June 29th. They set an “overweight” rating and a $97.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Quantinuum currently has an average rating of “Moderate Buy” and an average target price of $98.42.

Quantinuum Stock Performance

The firm has a 50 day moving average price of $51.09.

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. On average, equities research analysts forecast that Quantinuum Inc. will post -4.76 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Steel Grove Capital Advisors LLC lifted its holdings 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 last quarter. CoreCap Advisors LLC bought a new position in Quantinuum during the third quarter worth $32,000. Moody National Bank Trust Division acquired a new position in shares of Quantinuum in the third quarter valued at $525,000. HBK Investments L P acquired a new position in shares of Quantinuum in the second quarter valued at $14,669,000. Finally, Tidal Investments LLC acquired a new position in shares of Quantinuum in the second quarter valued at $1,122,000.

About Quantinuum

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.