Readystate Asset Management LP Buys New Shares in Quantinuum Inc. $QNT

Key Points

• Readystate Asset Management purchased 50,290 Quantinuum shares in the second quarter, valued at approximately $4.1 million. Several other institutional investors, including Wellington Management, also established new positions.
• Analysts maintain a broadly positive view, with 11 Buy, three Hold, and one Sell rating. Quantinuum has a “Moderate Buy” consensus rating and an average price target of $98.42.
• Quantinuum shares opened at $49.65, near the lower end of their 52-week range of $46.54 to $86.79. The company recently reported a quarterly loss of $0.28 per share on $8 million in revenue, missing the consensus EPS estimate by $0.02.

Readystate Asset Management LP purchased a new stake in Quantinuum Inc. (NASDAQ:QNT - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,290 shares of the company's stock, valued at approximately $4,111,000.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Bank of America assumed coverage on Quantinuum in a research report on Monday, June 29th. They set a "buy" rating and a $100.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Quantinuum in a research note on Wednesday, August 12th. UBS Group initiated coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a "buy" rating and a $93.00 price objective for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $155.00 price objective on shares of Quantinuum in a report on Wednesday, August 19th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $90.00 target price on shares of Quantinuum in a research note on Wednesday, August 12th. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $98.42.

Quantinuum Price Performance

Quantinuum stock opened at $49.65 on Monday. The business's fifty day moving average is $60.08. Quantinuum Inc. has a 52-week low of $46.54 and a 52-week high of $86.79.

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 for the quarter. Equities analysts anticipate that Quantinuum Inc. will post -1.64 EPS for the current fiscal 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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