Quantinuum (NASDAQ:QNT) Stock Falls 4.6% – Here’s Why

Quantinuum Inc. (NASDAQ:QNT)’s stock price traded down 4.6% during mid-day trading on Wednesday. The stock traded as low as $38.38 and last traded at $38.38. Approximately 170,710 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 2,273,944 shares. The stock had previously closed at $40.21.

Analyst Upgrades and Downgrades

A number of research analysts have commented on QNT shares. Sanford C. Bernstein restated a “hold” rating on shares of Quantinuum in a research note on Wednesday, August 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Quantinuum in a research note on Wednesday, August 12th. Wall Street Zen cut Quantinuum from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Jefferies Financial Group set a $85.00 price objective on Quantinuum in a report on Wednesday, August 12th. Finally, Morgan Stanley raised shares of Quantinuum from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $78.00 to $62.00 in a report on Thursday, October 15th. Thirteen research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.23.

Quantinuum Price Performance

The stock has a 50 day simple moving average of $45.96.

Quantinuum (NASDAQ:QNT) last announced its earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The firm had revenue of $8.00 million during the quarter. On average, equities research analysts anticipate 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. State of Wyoming acquired a new position in shares of Quantinuum during the third quarter valued at $378,000. Flagship Harbor Advisors LLC acquired a new position in Quantinuum during the 3rd quarter valued at about $206,000. McGuire Investment Group LLC boosted its stake in shares of Quantinuum by 1,892.4% in the 3rd quarter. McGuire Investment Group LLC now owns 57,360 shares of the company’s stock valued at $2,757,000 after purchasing an additional 54,481 shares during the last quarter. Canton Hathaway LLC grew its position in shares of Quantinuum by 21.5% during the 3rd quarter. Canton Hathaway LLC now owns 22,748 shares of the company’s stock worth $1,093,000 after buying an additional 4,023 shares during the period. Finally, Outfitters Financial LLC raised its stake in shares of Quantinuum by 180.0% during the third quarter. Outfitters Financial LLC now owns 17,500 shares of the company’s stock worth $841,000 after buying an additional 11,250 shares during the last quarter.

Quantinuum Company Profile

Quantinuum is a quantum computing company formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum. The company develops full-stack quantum computing technologies designed to support research and commercial applications across industries, including chemistry, materials science, cybersecurity, finance and artificial intelligence.

Its offerings include trapped-ion quantum computers, quantum software and development tools. Quantinuum’s software portfolio includes the TKET quantum compiler, InQuanto quantum chemistry platform, Quantum Origin quantum-enhanced cybersecurity solutions and the Nexus platform for developing and managing quantum applications.