Wellington Management Group LLP bought a new stake in Quantinuum Inc. (NASDAQ:QNT – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,130,639 shares of the company’s stock, valued at approximately $92,418,000. Wellington Management Group LLP owned about 0.43% of Quantinuum as of its most recent filing with the Securities and Exchange Commission (SEC).
Separately, Lisanti Capital Growth LLC acquired a new position in Quantinuum during the second quarter worth approximately $409,000.
Insider Buying and Selling at Quantinuum
In other Quantinuum news, insider Kevin Scott Dehoff bought 15,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, for a total transaction of $900,000.00. Following the completion of the purchase, the insider directly owned 126,460 shares of the company’s stock, valued at approximately $7,587,600. This trade represents a 13.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth D. Denman bought 14,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The stock was acquired 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. This represents a 240.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 411,032 shares of company stock worth $24,661,920 in the last three months.
Quantinuum Trading Down 4.9%
Quantinuum (NASDAQ:QNT – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $8.00 million for the quarter. As a group, equities analysts anticipate that Quantinuum Inc. will post -1.64 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Evercore initiated coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued an “outperform” rating and a $98.00 price objective on the stock. Weiss Ratings began coverage on shares of Quantinuum in a research note on Monday. They issued a “sell (d)” rating on the stock. Bank of America assumed coverage on shares of Quantinuum in a report on Monday, June 29th. They issued a “buy” rating and a $100.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on Quantinuum in a report on Monday, June 29th. They set an “overweight” rating and a $97.00 price objective for the company. Finally, Morgan Stanley started coverage on Quantinuum in a research report on Monday, June 29th. They issued an “equal weight” rating and a $78.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Quantinuum has an average rating of “Moderate Buy” and an average price target of $98.42.
Get Our Latest Stock Analysis on QNT
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.
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