Quantinuum Inc. (NASDAQ:QNT) Stock Has Average Target Price of $98.42

Shares of Quantinuum Inc. (NASDAQ:QNT) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $98.42.

A number of analysts recently issued reports on QNT shares. Rosenblatt Securities reiterated a “buy” rating and set a $155.00 price objective on shares of Quantinuum in a research note on Wednesday, August 19th. Mizuho started coverage on Quantinuum in a research note on Monday, June 29th. They issued an “outperform” rating and a $90.00 target price for the company. JPMorgan Chase & Co. started coverage on Quantinuum in a research report on Monday, June 29th. They set an “overweight” rating and a $97.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $90.00 price target on shares of Quantinuum in a report on Wednesday, August 12th. Finally, Jefferies Financial Group set a $85.00 price objective on shares of Quantinuum in a research report on Wednesday, August 12th.

Quantinuum Stock Performance

QNT opened at $41.30 on Wednesday. Quantinuum has a 12 month low of $41.04 and a 12 month high of $86.79. The company has a market cap of $10.87 billion and a P/E ratio of -147.50. The business has a 50 day simple moving average of $52.32.

Quantinuum (NASDAQ:QNT) last issued its earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share (EPS) 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, equities analysts anticipate that Quantinuum will post -4.76 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Quantinuum during the second quarter valued at $92,418,000. HBK Investments L P bought a new position in Quantinuum in the 2nd quarter worth about $14,669,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Quantinuum in the 2nd quarter valued at about $14,304,000. Readystate Asset Management LP bought a new stake in shares of Quantinuum during the 2nd quarter valued at about $4,111,000. Finally, Light Street Capital Management LLC bought a new stake in shares of Quantinuum during the 2nd quarter valued at about $2,881,000.

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.