Quantinuum’s (QNT) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Quantinuum (NASDAQ:QNT) in a research note published on Wednesday morning,Benzinga reports. They currently have a $90.00 target price on the stock.

A number of other research firms have also recently weighed in on QNT. Sanford C. Bernstein started coverage on shares of Quantinuum in a research note on Monday, June 29th. They set an “outperform” rating and a $94.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Quantinuum in a report on Monday, June 29th. They set an “overweight” rating and a $97.00 price target on the stock. Bank of America assumed coverage on Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $100.00 price objective on the stock. Mizuho assumed coverage on Quantinuum in a research note on Monday, June 29th. They issued an “outperform” rating and a $90.00 price objective for the company. Finally, Wall Street Zen cut Quantinuum from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.42.

Quantinuum Stock Down 7.2%

Quantinuum stock opened at $63.58 on Wednesday. Quantinuum has a 12-month low of $47.06 and a 12-month high of $86.79. The business has a 50 day moving average price of $63.20.

Quantinuum (NASDAQ:QNT) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The business had revenue of $8.00 million for the quarter. Analysts forecast that Quantinuum will post -1.6 EPS for the current year.

Insider Activity at Quantinuum

In related news, Director Kenneth D. Denman purchased 14,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $60.00 per share, for a total transaction of $840,000.00. Following the acquisition, the director owned 19,833 shares in the company, valued at approximately $1,189,980. The trade was a 240.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Manish H. Bhatia purchased 20,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was bought at an average price of $60.00 per share, for a total transaction of $1,200,000.00. Following the purchase, the director owned 25,833 shares in the company, valued at approximately $1,549,980. This represents a 342.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 411,032 shares of company stock valued at $24,661,920 in the last ninety days.

Hedge Funds Weigh In On Quantinuum

An institutional investor recently bought a new position in Quantinuum stock. Lisanti Capital Growth LLC purchased a new stake in shares of Quantinuum Inc. (NASDAQ:QNT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,005 shares of the company’s stock, valued at approximately $409,000.

About Quantinuum

Quantinuum is a quantum computing company focused on developing hardware and software for commercial and scientific applications. The company provides access to its quantum systems, along with software tools and services designed to help customers explore use cases in areas such as optimization, materials science, chemistry, cybersecurity, and machine learning.

The company was formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum in 2021. Quantinuum operates internationally and serves a range of customers across enterprise, government, and research markets.