Quantinuum (NASDAQ:QNT) Shares Down 4.6% – Should You Sell?

Shares of Quantinuum Inc. (NASDAQ:QNT) were down 4.6% during mid-day trading on Wednesday. The company traded as low as $40.90 and last traded at $41.01. 1,777,145 shares traded hands during trading, a decline of 24% from the average daily volume of 2,324,137 shares. The stock had previously closed at $43.00.

Wall Street Analyst Weigh In

Several analysts have issued reports on QNT shares. JPMorgan Chase & Co. dropped their price target on Quantinuum from $97.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, November 6th. Yorkville Ives initiated coverage on Quantinuum in a research report on Monday, October 5th. They set an “outperform” rating and a $60.00 price objective for the company. Morgan Stanley upgraded Quantinuum from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $78.00 to $62.00 in a report on Thursday, October 15th. Wall Street Zen raised Quantinuum from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $155.00 target price on shares of Quantinuum in a research report on Thursday, October 22nd. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Quantinuum presently has an average rating of “Moderate Buy” and a consensus target price of $81.77.

Quantinuum Stock Performance

The business has a fifty day simple moving average of $43.07. The firm has a market cap of $10.75 billion and a price-to-earnings ratio of -145.86.

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

Institutional Trading of Quantinuum

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new stake in shares of Quantinuum in the second quarter valued at about $92,418,000. Voya Investment Management LLC boosted its position in Quantinuum by 143.2% during the third quarter. Voya Investment Management LLC now owns 1,681,316 shares of the company’s stock valued at $80,804,000 after purchasing an additional 989,879 shares during the last quarter. HBK Investments L P bought a new position in Quantinuum in the second quarter valued at approximately $14,669,000. BlueCrest Capital Management Ltd bought a new position in Quantinuum in the second quarter valued at approximately $14,304,000. Finally, McGuire Investment Group LLC increased its position in shares of Quantinuum by 1,892.4% during the 3rd quarter. McGuire Investment Group LLC now owns 57,360 shares of the company’s stock worth $2,757,000 after purchasing an additional 54,481 shares during the last quarter.

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.