Quantinuum (NASDAQ:QNT) Sets New 1-Year Low – What’s Next?

Quantinuum Inc. (NASDAQ:QNT) hit a new 52-week low during trading on Thursday. The company traded as low as $46.42 and last traded at $46.44, with a volume of 866865 shares. The stock had previously closed at $48.06.

Analyst Ratings Changes

QNT has been the topic of several recent analyst reports. Mizuho assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They set an “outperform” rating and a $90.00 price objective on the stock. Sanford C. Bernstein reissued a “hold” rating on shares of Quantinuum in a research note on Wednesday, August 12th. Rosenblatt Securities restated a “buy” rating and set a $155.00 price objective on shares of Quantinuum in a report on Wednesday, August 19th. Evercore initiated coverage on Quantinuum in a research note on Monday, June 29th. They issued an “outperform” rating and a $98.00 target price for the company. Finally, UBS Group started coverage on Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $93.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $98.42.

Quantinuum Trading Down 1.7%

The stock has a 50-day moving average of $53.33.

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

Institutional Investors Weigh In On Quantinuum

Institutional investors have recently added to or reduced their stakes in the company. Lisanti Capital Growth LLC acquired a new stake in Quantinuum during the second quarter worth about $409,000. Integrated Wealth Concepts LLC acquired a new position in shares of Quantinuum in the 2nd quarter valued at about $417,000. Outfitters Financial LLC purchased a new stake in shares of Quantinuum during the 2nd quarter worth about $511,000. Tidal Investments LLC acquired a new stake in Quantinuum during the 2nd quarter worth approximately $1,122,000. Finally, Baird Financial Group Inc. acquired a new stake in Quantinuum during the 2nd quarter worth approximately $1,251,000.

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.