McGuire Investment Group LLC Purchases 54,481 Shares of Quantinuum Inc. $QNT

McGuire Investment Group LLC grew its position in shares of Quantinuum Inc. (NASDAQ:QNT) by 1,892.4% during the third quarter, Holdings Channel reports. The institutional investor owned 57,360 shares of the company’s stock after purchasing an additional 54,481 shares during the quarter. McGuire Investment Group LLC’s holdings in Quantinuum were worth $2,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in QNT. Wellington Management Group LLP purchased a new stake in Quantinuum during the second quarter valued at about $92,418,000. HBK Investments L P bought a new stake in shares of Quantinuum in the second quarter valued at approximately $14,669,000. BlueCrest Capital Management Ltd bought a new stake in shares of Quantinuum in the second quarter valued at approximately $14,304,000. Readystate Asset Management LP purchased a new stake in shares of Quantinuum during the 2nd quarter valued at approximately $4,111,000. Finally, Light Street Capital Management LLC purchased a new stake in shares of Quantinuum during the 2nd quarter valued at approximately $2,881,000.

Quantinuum Trading Up 1.7%

Shares of NASDAQ:QNT opened at $36.50 on Friday. The company’s 50 day moving average price is $47.51. Quantinuum Inc. has a 12 month low of $33.02 and a 12 month high of $86.79. The stock has a market capitalization of $9.61 billion and a PE ratio of -130.36.

Quantinuum (NASDAQ:QNT) last released 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 for the quarter. On average, equities analysts anticipate that Quantinuum Inc. will post -4.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Mizuho initiated coverage on shares of Quantinuum in a report on Monday, June 29th. They issued an “outperform” rating and a $90.00 price objective for the company. Wall Street Zen cut shares of Quantinuum from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Morgan Stanley upgraded Quantinuum from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $78.00 to $62.00 in a research report on Thursday, October 15th. Bank of America began coverage on Quantinuum in a report on Monday, June 29th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $155.00 price target on shares of Quantinuum in a research report on Thursday. Thirteen investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Quantinuum has a consensus rating of “Moderate Buy” and an average target price of $94.23.

Quantinuum Company Profile

Quantinuum is a quantum computing company formed in 2021 through the combination of Honeywell Quantum Solutions and Cambridge Quantum. The company develops full-stack quantum computing technologies designed to support research and commercial applications across industries, including chemistry, materials science, cybersecurity, finance and artificial intelligence.

Its offerings include trapped-ion quantum computers, quantum software and development tools. Quantinuum’s software portfolio includes the TKET quantum compiler, InQuanto quantum chemistry platform, Quantum Origin quantum-enhanced cybersecurity solutions and the Nexus platform for developing and managing quantum applications.