Quantinuum Inc. $QNT Position Increased by Parisi Gray Wealth Management

Parisi Gray Wealth Management increased its position in shares of Quantinuum Inc. (NASDAQ:QNT) by 508.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,717 shares of the company’s stock after purchasing an additional 15,642 shares during the period. Parisi Gray Wealth Management’s holdings in Quantinuum were worth $900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP bought a new stake in Quantinuum in the 2nd quarter valued at $92,418,000. HBK Investments L P bought a new position in shares of Quantinuum during the 2nd quarter worth about $14,669,000. BlueCrest Capital Management Ltd bought a new position in shares of Quantinuum during the 2nd quarter worth about $14,304,000. Readystate Asset Management LP acquired a new stake in shares of Quantinuum during the 2nd quarter valued at about $4,111,000. Finally, Light Street Capital Management LLC acquired a new stake in shares of Quantinuum during the 2nd quarter valued at about $2,881,000.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on QNT. Rosenblatt Securities reissued a “buy” rating and issued a $155.00 target price on shares of Quantinuum in a research note on Wednesday, August 19th. Mizuho initiated coverage on shares of Quantinuum in a research note on Monday, June 29th. They set an “outperform” rating and a $90.00 price target for the company. Weiss Ratings started coverage on Quantinuum in a report on Monday, August 31st. They set a “sell (d)” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Quantinuum in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. initiated coverage on Quantinuum in a research note on Monday, June 29th. They issued an “overweight” rating and a $97.00 price objective on the stock. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.08.

Quantinuum Price Performance

Quantinuum stock traded down $0.13 during mid-day trading on Friday, hitting $36.55. 2,555,143 shares of the company were exchanged, compared to its average volume of 2,402,780. The business has a fifty day moving average of $50.20. Quantinuum Inc. has a 1-year low of $33.02 and a 1-year high of $86.79. The company has a market capitalization of $9.62 billion and a P/E ratio of -130.54.

Quantinuum (NASDAQ:QNT) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The business had revenue of $8.00 million during the quarter. Research analysts anticipate that Quantinuum Inc. will post -4.76 earnings per share for the current year.

Quantinuum Profile

Quantinuum is a quantum computing and quantum information technology company that develops full-stack quantum computing systems, software and cybersecurity solutions. Its business combines trapped-ion quantum computing hardware with software designed to help organizations develop, test and run quantum applications.

The company offers quantum computing systems and related cloud access, as well as software products for quantum programming, algorithm development and chemistry research. Its portfolio has included the TKET software development toolkit, InQuanto for quantum chemistry and materials modeling, and Quantum Origin, a platform focused on quantum-enhanced cybersecurity and cryptographic key generation.