Craig Hallum Initiates Coverage on Quantinuum (NASDAQ:QNT)

Craig Hallum started coverage on shares of Quantinuum (NASDAQ:QNT) in a research note issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $100.00 price target on the stock. Craig Hallum’s target price indicates a potential upside of 32.33% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Rosenblatt Securities assumed coverage on shares of Quantinuum in a report on Monday. They set a “buy” rating 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 for the company. UBS Group initiated coverage on Quantinuum in a report on Monday. They set a “buy” rating on the stock. TD Cowen assumed coverage on Quantinuum in a research report on Monday. They set a “buy” rating on the stock. Finally, Wall Street Zen upgraded Quantinuum to a “hold” rating in a research report on Saturday, June 20th. Eleven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $93.33.

Quantinuum Stock Performance

NASDAQ QNT opened at $75.57 on Monday. Quantinuum has a 1 year low of $50.10 and a 1 year high of $81.48.

Insider Buying and Selling

In other Quantinuum news, Director Kenneth D. Denman purchased 14,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $60.00 per share, for a total transaction of $840,000.00. Following the purchase, the director directly owned 19,833 shares in the company, valued at $1,189,980. This trade represents a 240.01% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Manish H. Bhatia acquired 20,000 shares of Quantinuum stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average cost of $60.00 per share, with a total value of $1,200,000.00. Following the purchase, the director owned 25,833 shares in the company, valued at $1,549,980. The trade was a 342.88% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 411,032 shares of company stock valued at $24,661,920.

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.