Quantinuum (NASDAQ:QNT) Reaches New 1-Year Low – Should You Sell?

Quantinuum Inc. (NASDAQ:QNT) shares reached a new 52-week low on Thursday. The stock traded as low as $30.53 and last traded at $30.99, with a volume of 213,601 shares traded. The stock had previously closed at $32.75.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Morgan Stanley upgraded shares of Quantinuum from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $78.00 to $62.00 in a report on Thursday, October 15th. Sanford C. Bernstein restated a “hold” rating on shares of Quantinuum in a research report on Wednesday, August 12th. Jefferies Financial Group set a $85.00 price target on shares of Quantinuum in a research report on Wednesday, August 12th. Weiss Ratings assumed coverage on Quantinuum in a research note on Monday, August 31st. They issued a “sell (d)” rating for the company. Finally, Yorkville Ives started coverage on shares of Quantinuum in a research note on Monday, October 5th. They set an “outperform” rating and a $60.00 price target for the company. Thirteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.23.

Quantinuum Price Performance

The firm has a market cap of $7.69 billion and a P/E ratio of -104.32. The company has a 50 day moving average of $44.20.

Quantinuum (NASDAQ:QNT) last announced 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 firm had revenue of $8.00 million for the quarter. On average, equities analysts expect that Quantinuum Inc. will post -4.76 earnings per share for the current fiscal year.

Institutional Trading of Quantinuum

Several institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC bought a new position in Quantinuum during the third quarter worth $32,000. IFP Advisors Inc boosted its holdings in Quantinuum by 1,150.0% in the third quarter. IFP Advisors Inc now owns 1,250 shares of the company’s stock worth $60,000 after acquiring an additional 1,150 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Quantinuum in the 3rd quarter valued at $206,000. Steel Grove Capital Advisors LLC increased its position in shares of Quantinuum by 25.6% during the third quarter. Steel Grove Capital Advisors LLC now owns 5,992 shares of the company’s stock worth $288,000 after acquiring an additional 1,222 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Quantinuum by 52.8% in the third quarter. SBI Securities Co. Ltd. now owns 6,778 shares of the company’s stock valued at $326,000 after purchasing an additional 2,343 shares in 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.