Light Street Capital Management LLC acquired a new stake in Quantinuum Inc. (NASDAQ:QNT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 35,242 shares of the company’s stock, valued at approximately $2,881,000. Quantinuum accounts for about 0.3% of Light Street Capital Management LLC’s holdings, making the stock its 25th biggest holding.
A number of other large investors have also added to or reduced their stakes in QNT. Lisanti Capital Growth LLC acquired a new stake in Quantinuum during the 2nd quarter worth approximately $409,000. Outfitters Financial LLC acquired a new position in Quantinuum in the 2nd quarter valued at approximately $511,000. Readystate Asset Management LP bought a new position in shares of Quantinuum during the second quarter valued at $4,111,000. Finally, Wellington Management Group LLP bought a new position in shares of Quantinuum during the second quarter valued at $92,418,000.
Quantinuum Stock Up 1.7%
Shares of QNT traded up $0.82 during trading hours on Tuesday, hitting $50.47. 2,896,421 shares of the stock were exchanged, compared to its average volume of 2,386,881. Quantinuum Inc. has a fifty-two week low of $46.54 and a fifty-two week high of $86.79. The business’s 50-day simple moving average is $58.99.
Wall Street Analyst Weigh In
QNT has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued an “overweight” rating and a $97.00 price objective on the stock. UBS Group started coverage on Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $93.00 target price for the company. Craig Hallum began coverage on Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $100.00 price target on the stock. Bank of America began coverage on Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $100.00 price objective 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 analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.42.
View Our Latest Analysis on QNT
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.
Further Reading
- Five stocks we like better than Quantinuum
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
Receive News & Ratings for Quantinuum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantinuum and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.jpg){kind=logo}
