Quantinuum (NASDAQ:QNT) Given New $50.00 Price Target at Bank of America

Quantinuum (NASDAQ:QNT) had its price target cut by analysts at Bank of America from $85.00 to $50.00 in a research note issued on Monday, Marketbeat Ratings reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 33.08% from the stock’s current price.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. decreased 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. Sanford C. Bernstein reiterated a “hold” rating on shares of Quantinuum in a report on Wednesday, August 12th. Yorkville Ives assumed coverage on Quantinuum in a research note on Monday, October 5th. They set an “outperform” rating and a $60.00 target price on the stock. Needham & Company LLC lowered their target price on Quantinuum from $100.00 to $60.00 and set a “buy” rating for the company in a report on Friday. Finally, Cantor Fitzgerald dropped their target price on Quantinuum from $90.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday. Thirteen research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.77.

Quantinuum Stock Performance

Shares of QNT stock opened at $37.57 on Monday. The business has a 50 day moving average of $43.41. Quantinuum has a one year low of $28.31 and a one year high of $86.79. The firm has a market cap of $9.89 billion and a price-to-earnings ratio of -134.18.

Quantinuum (NASDAQ:QNT) last posted its earnings results on Thursday, November 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.99) by $0.70. The company had revenue of $9.05 million during the quarter. Analysts forecast that Quantinuum will post -4.76 EPS for the current fiscal year.

Institutional Trading of Quantinuum

Large 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 $92,418,000. HBK Investments L P purchased a new position in Quantinuum in the second quarter valued at $14,669,000. BlueCrest Capital Management Ltd acquired a new position in Quantinuum during the 2nd quarter worth $14,304,000. Readystate Asset Management LP acquired a new position in Quantinuum during the 2nd quarter worth $4,111,000. Finally, Light Street Capital Management LLC acquired a new position in Quantinuum during the 2nd quarter worth $2,881,000.

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.