Quantinuum (NASDAQ:QNT) Stock Gets Price Target Reduction from Bank of America

Quantinuum (NASDAQ:QNT) had its target price trimmed by Bank of America from $85.00 to $50.00 in a research report report published on Monday, MarketBeat Ratings reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the company. Sanford C. Bernstein reiterated a “hold” rating on shares of Quantinuum in a research report on Wednesday, August 12th. Needham & Company LLC cut their price target on Quantinuum from $100.00 to $60.00 and set a “buy” rating for the company in a report on Friday, November 6th. Jefferies Financial Group reduced their price objective on Quantinuum from $85.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Morgan Stanley raised Quantinuum from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $78.00 to $62.00 in a research note on Thursday, October 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Quantinuum from $97.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, November 6th. Thirteen 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.77.

Quantinuum Stock Performance

Shares of NASDAQ QNT opened at $40.57 on Monday. The company has a market cap of $10.68 billion and a P/E ratio of -144.89. The company has a fifty day moving average of $42.93. Quantinuum has a 52-week low of $28.31 and a 52-week high of $86.79.

Quantinuum (NASDAQ:QNT) last announced its quarterly earnings results on Thursday, November 5th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.99) by $0.70. The company had revenue of $9.05 million during the quarter. As a group, equities analysts anticipate that Quantinuum will post -4.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CoreCap Advisors LLC purchased a new position in Quantinuum in the third quarter worth about $32,000. Fifth Third Bancorp lifted its stake in shares of Quantinuum by 1,530.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,027 shares of the company’s stock valued at $49,000 after purchasing an additional 964 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Quantinuum by 1,150.0% in the 3rd quarter. IFP Advisors Inc now owns 1,250 shares of the company’s stock valued at $60,000 after purchasing an additional 1,150 shares during the last quarter. GW&K Investment Management LLC bought a new stake in shares of Quantinuum in the 3rd quarter valued at approximately $82,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Quantinuum in the 3rd quarter worth approximately $97,000.

Key Quantinuum News

These are some of the QNT news items that stood out recently:

• Positive Sentiment: A recent report points to technological progress, growing backlog and revenue as reasons for optimism about Quantinuum’s commercial prospects. However, the article also notes that the stock had already rallied sharply, which may leave it vulnerable to profit-taking. Article
• Neutral Sentiment: A short-interest report lists zero shares sold short and a zero-day days-to-cover ratio as of November 10, suggesting short selling was not a notable source of pressure based on the reported figures. Short interest data
• Negative Sentiment: Bank of America cut its price target for QNT, a potentially negative signal for investor sentiment. The available report does not specify the revised target or the rationale for the cut. Article

Quantinuum Company Profile

Quantinuum develops quantum computers, software and cybersecurity products for businesses, researchers and government organizations. Its work includes trapped-ion quantum systems, tools for programming and managing quantum applications, and services focused on quantum chemistry and data security. The company was formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum, bringing together quantum hardware and software capabilities. Its offerings include the H-series quantum computers, the TKET software development kit and InQuanto, a platform for quantum chemistry research.