JPMorgan Chase & Co. Begins Coverage on Quantinuum (NASDAQ:QNT)

Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Quantinuum (NASDAQ:QNT) in a report issued on Monday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $97.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 29.21% from the stock’s previous close.

QNT has been the topic of several other reports. Sanford C. Bernstein assumed coverage on shares of Quantinuum in a research report on Monday. They issued an “outperform” rating and a $94.00 price objective on the stock. Mizuho assumed coverage on Quantinuum in a research report on Monday. They issued an “outperform” rating and a $90.00 target price on the stock. Craig Hallum assumed coverage on Quantinuum in a report on Monday. They issued a “buy” rating and a $100.00 price objective on the stock. Bank of America assumed coverage on shares of Quantinuum in a research note on Monday. They issued a “buy” rating and a $100.00 price target on the stock. Finally, TD Cowen started coverage on shares of Quantinuum in a research report on Monday. They set a “buy” rating on the stock. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.75.

Quantinuum Trading Down 0.7%

Shares of NASDAQ QNT traded down $0.50 during midday trading on Monday, hitting $75.07. 596,477 shares of the company’s stock were exchanged, compared to its average volume of 4,074,856. Quantinuum has a 12 month low of $50.10 and a 12 month high of $81.48.

Insider Activity

In other Quantinuum news, Director Manish H. Bhatia purchased 20,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $60.00 per share, with a total value of $1,200,000.00. Following the completion of the purchase, the director owned 25,833 shares of the company’s stock, valued at approximately $1,549,980. The trade was a 342.88% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Kevin Scott Dehoff bought 15,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $60.00 per share, for a total transaction of $900,000.00. Following the completion of the acquisition, the insider directly owned 126,460 shares in the company, valued at approximately $7,587,600. This trade represents a 13.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders purchased 411,032 shares of company stock worth $24,661,920.

About Quantinuum

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.