Light Street Capital Management LLC Purchases Shares of 35,242 Quantinuum Inc. $QNT

by · The Markets Daily

Light Street Capital Management LLC acquired a new stake in shares of Quantinuum Inc. (NASDAQ:QNT – Free Report) during the 2nd quarter, Holdings Channel reports. The firm acquired 35,242 shares of the company’s stock, valued at approximately $2,881,000. Quantinuum accounts for 0.3% of Light Street Capital Management LLC’s holdings, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Lisanti Capital Growth LLC acquired a new stake in shares of Quantinuum in the 2nd quarter valued at about $409,000. Outfitters Financial LLC acquired a new position in Quantinuum during the 2nd quarter worth approximately $511,000. Readystate Asset Management LP bought a new position in Quantinuum in the second quarter worth approximately $4,111,000. Finally, Wellington Management Group LLP acquired a new stake in Quantinuum in the second quarter valued at approximately $92,418,000.

Quantinuum Stock Up 1.7%

Shares of QNT stock traded up $0.82 during trading hours on Tuesday, reaching $50.47. The company had a trading volume of 2,896,421 shares, compared to its average volume of 2,386,881. Quantinuum Inc. has a 12 month low of $46.54 and a 12 month high of $86.79. The firm has a fifty day moving average of $58.99.

Quantinuum (NASDAQ:QNT – Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $8.00 million during the quarter. On average, equities research analysts anticipate that Quantinuum Inc. will post -1.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Morgan Stanley assumed coverage on Quantinuum in a report on Monday, June 29th. They set an “equal weight” rating and a $78.00 price objective for the company. Weiss Ratings assumed coverage on shares of Quantinuum in a research report on Monday, August 31st. They issued a “sell (d)” rating for the company. Bank of America started coverage on shares of Quantinuum in a research note on Monday, June 29th. They set a “buy” rating and a $100.00 price target for the company. TD Cowen assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Quantinuum in a report on Wednesday, August 12th. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.42.

Get Our Latest Analysis on QNT

Quantinuum Company Profile

(Free Report)

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.

Further Reading

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