175,000 Shares in Quantinuum Inc. $QNT Bought by BlueCrest Capital Management Ltd

BlueCrest Capital Management Ltd bought a new stake in Quantinuum Inc. (NASDAQ:QNT) in the second quarter, HoldingsChannel reports. The fund bought 175,000 shares of the company’s stock, valued at approximately $14,304,000. Quantinuum accounts for approximately 0.5% of BlueCrest Capital Management Ltd’s investment portfolio, making the stock its 27th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new position in shares of Quantinuum during the 2nd quarter worth about $92,418,000. Readystate Asset Management LP acquired a new stake in shares of Quantinuum in the second quarter valued at about $4,111,000. Light Street Capital Management LLC acquired a new stake in shares of Quantinuum in the second quarter valued at about $2,881,000. Integrated Wealth Concepts LLC bought a new stake in Quantinuum during the second quarter worth about $417,000. Finally, Baird Financial Group Inc. bought a new stake in Quantinuum during the second quarter worth about $1,251,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on QNT shares. Craig Hallum assumed coverage on Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 price target for the company. Sanford C. Bernstein reissued a “hold” rating on shares of Quantinuum in a report on Wednesday, August 12th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Quantinuum in a research note on Wednesday, August 12th. Morgan Stanley began coverage on shares of Quantinuum in a research report on Monday, June 29th. They set an “equal weight” rating and a $78.00 price target on the stock. Finally, Zacks Research upgraded shares of Quantinuum to a “hold” rating in a research note on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Quantinuum has a consensus rating of “Moderate Buy” and a consensus target price of $98.42.

Quantinuum Stock Down 3.1%

QNT opened at $48.89 on Thursday. Quantinuum Inc. has a 12-month low of $46.54 and a 12-month high of $86.79. The company has a 50 day simple moving average of $58.40.

Quantinuum (NASDAQ:QNT) last posted its earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The company had revenue of $8.00 million during the quarter. As a group, equities research analysts anticipate that Quantinuum Inc. will post -1.64 earnings per share for the current fiscal year.

Quantinuum 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.