BTIG Research Initiates Coverage on Quantinuum (NASDAQ:QNT)

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

QNT has been the topic of several other research reports. Needham & Company LLC cut their price target on Quantinuum from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, November 6th. Bank of America lowered their price objective on Quantinuum from $85.00 to $50.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley raised Quantinuum from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $78.00 to $62.00 in a research report on Thursday, October 15th. Cantor Fitzgerald cut their target price on Quantinuum from $90.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, November 6th. Finally, Weiss Ratings assumed coverage on shares of Quantinuum in a report on Monday, August 31st. They set a “sell (d)” rating for the company. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.21.

Quantinuum Stock Down 5.7%

Shares of NASDAQ QNT opened at $40.57 on Thursday. The stock has a 50-day simple moving average of $42.93. Quantinuum has a 52-week low of $28.31 and a 52-week high of $86.79. The company has a market capitalization of $10.68 billion and a PE ratio of -54.09.

Quantinuum (NASDAQ:QNT) last issued its earnings results on Thursday, November 5th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.99) by $0.70. The company had revenue of $9.05 million during the quarter. On average, research analysts anticipate that Quantinuum will post -4.76 earnings per share for the current year.

Hedge Funds Weigh In On Quantinuum

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp bought a new stake in Quantinuum during the 3rd quarter valued at $18,491,000. GW&K Investment Management LLC bought a new position in shares of Quantinuum in the third quarter worth $82,000. Voya Investment Management LLC increased its holdings in shares of 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 period. Russell Investments Group Ltd. acquired a new position in shares of Quantinuum during the third quarter valued at $97,000. Finally, Pier 88 Investment Partners LLC bought a new stake in shares of Quantinuum during the third quarter valued at about $154,000.

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.