HBK Investments L P Invests $14.67 Million in Quantinuum Inc. $QNT

Key Points

• HBK Investments acquired 179,462 Quantinuum shares worth approximately $14.67 million, representing about 0.07% of the company. Several other institutional investors also established new positions during the second quarter.
• Analysts are broadly positive on QNT, with 11 Buy, three Hold, and one Sell rating. The consensus rating is “Moderate Buy”, with an average price target of $98.42.
• Quantinuum shares rose 6.9% to $52.01, but the company reported a quarterly loss of $0.28 per share, missing estimates by $0.02, on revenue of $8 million.

HBK Investments L P acquired a new stake in Quantinuum Inc. (NASDAQ:QNT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 179,462 shares of the company's stock, valued at approximately $14,669,000. HBK Investments L P owned approximately 0.07% of Quantinuum at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lisanti Capital Growth LLC bought a new stake in Quantinuum during the second quarter worth about $409,000. Integrated Wealth Concepts LLC bought a new position in Quantinuum in the second quarter valued at approximately $417,000. Outfitters Financial LLC bought a new position in Quantinuum in the second quarter valued at approximately $511,000. Tidal Investments LLC acquired a new position in shares of Quantinuum during the 2nd quarter worth approximately $1,122,000. Finally, Baird Financial Group Inc. bought a new stake in shares of Quantinuum during the 2nd quarter worth approximately $1,251,000.

Analysts Set New Price Targets

QNT has been the subject of several recent analyst reports. Morgan Stanley began coverage on Quantinuum in a report on Monday, June 29th. They issued an "equal weight" rating and a $78.00 price objective for the company. Mizuho began coverage on shares of Quantinuum in a report on Monday, June 29th. They set an "outperform" rating and a $90.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Quantinuum in a research report on Monday, June 29th. They set an "overweight" rating and a $97.00 price target on the stock. Craig Hallum initiated coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a "buy" rating and a $100.00 price target for the company. Finally, UBS Group assumed coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued a "buy" rating and a $93.00 price objective for the company. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Quantinuum currently has an average rating of "Moderate Buy" and a consensus price target of $98.42.

Quantinuum Stock Up 6.9%

Shares of QNT traded up $3.36 during mid-day trading on Wednesday, reaching $52.01. The company's stock had a trading volume of 1,952,288 shares, compared to its average volume of 2,305,688. Quantinuum Inc. has a 1-year low of $46.54 and a 1-year high of $86.79. The business's 50-day moving average price is $56.11.

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

Quantinuum Profile

Quantinuum is a quantum computing and technology company formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum. The company develops integrated quantum computing systems, combining quantum hardware, software and applications for business, government and research customers.

Its offerings include trapped-ion quantum computers in the H-Series, quantum software development tools such as TKET, and cybersecurity products including Quantum Origin, which is designed to help generate and protect cryptographic keys.

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