Quantinuum (NASDAQ:QNT) Shares Gap Up – Still a Buy?

Quantinuum Inc. (NASDAQ:QNT)’s share price gapped up before the market opened on Monday. The stock had previously closed at $36.55, but opened at $38.78. Quantinuum shares last traded at $37.37, with a volume of 519,108 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on QNT. UBS Group began coverage on Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $93.00 price objective on the stock. Zacks Research upgraded shares of Quantinuum to a “hold” rating in a research report on Tuesday, June 30th. Morgan Stanley upgraded shares of Quantinuum from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $78.00 to $62.00 in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price objective on shares of Quantinuum in a research note on Wednesday, August 12th. Finally, Bank of America began coverage on Quantinuum in a research note on Monday, June 29th. They set a “buy” rating and a $100.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $97.08.

Quantinuum Trading Up 1.9%

The stock has a market cap of $9.80 billion and a PE ratio of -132.96. The firm’s fifty day moving average is $50.20.

Quantinuum (NASDAQ:QNT) last issued its earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $8.00 million during the quarter. As a group, equities analysts forecast that Quantinuum Inc. will post -4.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CoreCap Advisors LLC bought a new position in Quantinuum in the third quarter worth about $32,000. IFP Advisors Inc lifted its stake in Quantinuum by 1,150.0% during the 3rd 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 raised its stake in shares of 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 buying an additional 1,222 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in Quantinuum in the 2nd quarter worth approximately $409,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Quantinuum during the second quarter valued at $417,000.

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.