Quantinuum (NASDAQ:QNT) Now Covered by Analysts at BTIG Research

Investment analysts at BTIG Research started coverage on shares of Quantinuum (NASDAQ:QNT) in a report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $60.00 price target on the stock. BTIG Research‘s price objective points to a potential upside of 47.89% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Morgan Stanley upgraded shares of Quantinuum from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $78.00 to $62.00 in a research note on Thursday, October 15th. Sanford C. Bernstein restated a “hold” rating on shares of Quantinuum in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Quantinuum from a “sell” rating to a “hold” rating in a research report on Saturday, November 7th. Cantor Fitzgerald decreased their price target on shares of Quantinuum from $90.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, November 6th. Finally, Bank of America cut their price target on shares of Quantinuum from $85.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. Fourteen research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Quantinuum has a consensus rating of “Moderate Buy” and an average price target of $80.21.

Quantinuum Stock Performance

Shares of QNT opened at $40.57 on Thursday. The stock’s 50-day moving average is $42.93. The firm has a market capitalization of $10.68 billion and a PE ratio of -54.09. Quantinuum has a 12 month low of $28.31 and a 12 month high of $86.79.

Quantinuum (NASDAQ:QNT) last issued its earnings results on Thursday, November 5th. The company reported ($0.29) earnings per share 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, analysts predict that Quantinuum will post -4.76 EPS for the current year.

Institutional Trading of Quantinuum

Several institutional investors and hedge funds have recently bought and sold shares of QNT. State Street Corp acquired a new position in shares of Quantinuum in the 3rd quarter worth approximately $18,491,000. GW&K Investment Management LLC bought a new position in Quantinuum during the third quarter worth $82,000. Voya Investment Management LLC lifted 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 purchasing an additional 989,879 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Quantinuum in the third quarter worth $97,000. Finally, Pier 88 Investment Partners LLC acquired a new position in Quantinuum in the third quarter worth $154,000.

About Quantinuum

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.