Quantinuum’s (QNT) Buy Rating Reiterated at Rosenblatt Securities

Quantinuum (NASDAQ:QNT)‘s stock had its “buy” rating reissued by Rosenblatt Securities in a note issued to investors on Thursday, Benzinga reports. They presently have a $155.00 target price on the stock. Rosenblatt Securities‘s target price would suggest a potential upside of 331.75% from the stock’s current price.

Several other research firms have also weighed in on QNT. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Quantinuum in a report on Wednesday, August 12th. Bank of America began coverage on Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $100.00 price target on the stock. Morgan Stanley raised Quantinuum from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $78.00 to $62.00 in a research report on Thursday, October 15th. Yorkville Ives began coverage on Quantinuum in a research report on Monday, October 5th. They set an “outperform” rating and a $60.00 price objective on the stock. Finally, Mizuho began coverage on Quantinuum in a research report on Monday, June 29th. They set an “outperform” rating and a $90.00 price objective on the stock. Thirteen investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Quantinuum presently has an average rating of “Moderate Buy” and a consensus price target of $94.23.

Quantinuum Trading Down 7.1%

QNT traded down $2.75 during trading hours on Thursday, hitting $35.90. The company’s stock had a trading volume of 2,301,720 shares, compared to its average volume of 2,323,531. The firm has a 50-day moving average of $48.70. Quantinuum has a 12 month low of $33.02 and a 12 month high of $86.79. The firm has a market cap of $9.45 billion and a PE ratio of -128.21.

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 the consensus estimate of ($0.26) by ($0.02). The company had revenue of $8.00 million for the quarter. As a group, equities analysts predict that Quantinuum will post -4.76 earnings per share for the current year.

Institutional Investors Weigh In On Quantinuum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QNT. Wellington Management Group LLP purchased a new stake in Quantinuum in the second quarter valued at about $92,418,000. HBK Investments L P purchased a new stake in Quantinuum in the second quarter valued at about $14,669,000. BlueCrest Capital Management Ltd purchased a new stake in Quantinuum in the second quarter valued at about $14,304,000. Readystate Asset Management LP purchased a new stake in Quantinuum in the second quarter valued at about $4,111,000. Finally, Light Street Capital Management LLC purchased a new stake in Quantinuum in the second quarter valued at about $2,881,000.

About Quantinuum

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.