BlueCrest Capital Management Ltd Makes New $14.30 Million Investment in Quantinuum Inc. $QNT

Key Points

• BlueCrest Capital Management purchased 175,000 Quantinuum shares worth approximately $14.3 million in the second quarter, making QNT 0.5% of its portfolio and its 27th-largest holding.
• Several other institutional investors also initiated positions, led by Wellington Management with an investment valued at approximately $92.4 million.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $98.42, although Quantinuum recently missed quarterly EPS expectations and reported $8 million in revenue.

BlueCrest Capital Management Ltd purchased a new stake in Quantinuum Inc. (NASDAQ:QNT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 175,000 shares of the company's stock, valued at approximately $14,304,000. Quantinuum comprises 0.5% of BlueCrest Capital Management Ltd's portfolio, making the stock its 27th biggest position. BlueCrest Capital Management Ltd owned 0.07% of Quantinuum at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP acquired a new position in Quantinuum during the second quarter valued at approximately $92,418,000. Readystate Asset Management LP acquired a new stake in Quantinuum in the second quarter worth $4,111,000. Light Street Capital Management LLC bought a new position in shares of Quantinuum during the second quarter worth $2,881,000. WINTON GROUP Ltd acquired a new position in shares of Quantinuum in the 2nd quarter valued at $1,283,000. Finally, Baird Financial Group Inc. acquired a new position in shares of Quantinuum in the 2nd quarter valued at $1,251,000.

Wall Street Analyst Weigh In

Several analysts recently commented on QNT shares. Jefferies Financial Group set a $85.00 price objective on Quantinuum in a research note on Wednesday, August 12th. Evercore assumed coverage on Quantinuum in a research note on Monday, June 29th. They issued an "outperform" rating and a $98.00 target price for the company. UBS Group began coverage on Quantinuum in a report on Monday, June 29th. They issued a "buy" rating and a $93.00 price target for the company. Weiss Ratings began coverage on Quantinuum in a report on Monday, August 31st. They set a "sell (d)" rating on the stock. Finally, Sanford C. Bernstein reiterated a "hold" rating on shares of Quantinuum in a research report on Wednesday, August 12th. Eleven research 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.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.42.

Quantinuum Price Performance

QNT stock opened at $48.89 on Thursday. The business's 50-day moving average price is $58.40. Quantinuum Inc. has a 1 year low of $46.54 and a 1 year high of $86.79.

Quantinuum (NASDAQ:QNT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.02). The firm had revenue of $8.00 million during the quarter. As a group, sell-side analysts forecast that Quantinuum Inc. will post -1.64 earnings per share for the current year.

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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