Quantinuum (NASDAQ:QNT) Sets New 12-Month High – Here’s Why

Quantinuum Inc. (NASDAQ:QNT) shares hit a new 52-week high during trading on Monday . The stock traded as high as $82.82 and last traded at $82.73, with a volume of 719556 shares traded. The stock had previously closed at $74.56.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on QNT shares. TD Cowen assumed coverage on Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating for the company. Evercore initiated coverage on Quantinuum in a research note on Monday, June 29th. They issued an “outperform” rating and a $98.00 price objective on the stock. UBS Group started coverage on shares of Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $93.00 target price for the company. Jefferies Financial Group began coverage on shares of Quantinuum in a report on Monday, June 29th. They set a “buy” rating and a $90.00 price target for the company. Finally, Rosenblatt Securities initiated coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $155.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Quantinuum presently has a consensus rating of “Moderate Buy” and an average target price of $98.75.

Quantinuum Price Performance

Insiders Place Their Bets

In related news, Director Kenneth D. Denman acquired 14,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $60.00 per share, for a total transaction of $840,000.00. Following the completion of the acquisition, the director owned 19,833 shares of the company’s stock, valued at approximately $1,189,980. This trade represents a 240.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin Scott Dehoff acquired 15,000 shares of the business’s stock in a transaction dated 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 transaction, the insider directly owned 126,460 shares in the company, valued at approximately $7,587,600. This represents a 13.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 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.