Wellington Management Group LLP Purchases New Position in Quantinuum Inc. $QNT

Wellington Management Group LLP acquired a new position in shares of Quantinuum Inc. (NASDAQ:QNT) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 1,130,639 shares of the company’s stock, valued at approximately $92,418,000.

Separately, Lisanti Capital Growth LLC bought a new stake in shares of Quantinuum during the second quarter worth $409,000.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Evercore started coverage on shares of Quantinuum in a report on Monday, June 29th. They set an “outperform” rating and a $98.00 price target for the company. Morgan Stanley started coverage on Quantinuum in a research report on Monday, June 29th. They set an “equal weight” rating and a $78.00 price objective on the stock. Sanford C. Bernstein reaffirmed a “hold” rating on shares of Quantinuum in a report on Wednesday, August 12th. TD Cowen began coverage on Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating for the company. Finally, Wall Street Zen lowered Quantinuum from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Quantinuum has an average rating of “Moderate Buy” and a consensus target price of $98.42.

Quantinuum Trading Down 4.9%

Shares of QNT stock opened at $47.66 on Wednesday. Quantinuum Inc. has a one year low of $47.06 and a one year high of $86.79. The firm has a 50 day moving average of $61.52.

Quantinuum (NASDAQ:QNT) last issued its quarterly 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. As a group, sell-side analysts anticipate that Quantinuum Inc. will post -1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman purchased 14,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, with a total value of $840,000.00. Following the completion of the transaction, the director owned 19,833 shares of the company’s stock, valued at $1,189,980. The trade was a 240.01% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Jimenez purchased 66,665 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, with a total value of $3,999,900.00. Following the completion of the acquisition, the director owned 72,498 shares in the company, valued at approximately $4,349,880. This trade represents a 1,142.89% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 411,032 shares of company stock valued at $24,661,920 over the last quarter.

Quantinuum Company Profile

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.