Quantinuum (NASDAQ:QNT) Stock Rated “Buy” in New Coverage at BTIG Research

BTIG Research began coverage on shares of Quantinuum (NASDAQ:QNT) in a report released on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $60.00 price target on the stock.

Several other equities analysts also recently issued reports on the stock. Weiss Ratings assumed coverage on shares of Quantinuum in a research note on Monday, August 31st. They set a “sell (d)” rating for the company. Needham & Company LLC reduced their price objective on shares of Quantinuum from $100.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, November 6th. Sanford C. Bernstein restated a “hold” rating on shares of Quantinuum in a report on Wednesday, August 12th. Yorkville Ives began coverage on Quantinuum in a research report on Monday, October 5th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Jefferies Financial Group cut their target price on Quantinuum from $85.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Fourteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Quantinuum currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.21.

Quantinuum Stock Performance

NASDAQ QNT traded down $2.06 during trading hours on Thursday, reaching $35.40. The company’s stock had a trading volume of 1,956,929 shares, compared to its average volume of 2,391,054. The company’s fifty day simple moving average is $42.45. The firm has a market capitalization of $9.32 billion and a PE ratio of -47.20. Quantinuum has a 52 week low of $28.31 and a 52 week high of $86.79.

Quantinuum (NASDAQ:QNT) last posted its 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 business had revenue of $9.05 million for the quarter. On average, sell-side analysts expect that Quantinuum will post -4.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in shares of Quantinuum in the 2nd quarter valued at $92,418,000. Voya Investment Management LLC raised its stake in Quantinuum by 143.2% during the third quarter. Voya Investment Management LLC now owns 1,681,316 shares of the company’s stock worth $80,804,000 after buying an additional 989,879 shares during the last quarter. State Street Corp bought a new position in Quantinuum during the third quarter worth $18,491,000. HBK Investments L P acquired a new position in Quantinuum in the second quarter valued at $14,669,000. Finally, BlueCrest Capital Management Ltd acquired a new position in Quantinuum in the second quarter valued at $14,304,000.

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.