Quantinuum Inc. (NASDAQ:QNT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Quantinuum Inc. (NASDAQ:QNT) have been assigned an average rating of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $98.75.

QNT has been the topic of several research reports. JPMorgan Chase & Co. assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued an “overweight” rating and a $97.00 price target on the stock. Bank of America assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 price objective for the company. UBS Group initiated coverage on shares of Quantinuum in a report on Monday, June 29th. They issued a “buy” rating and a $93.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of Quantinuum in a research report on Monday, June 29th. They set an “overweight” rating and a $90.00 target price on the stock. Finally, TD Cowen began coverage on shares of Quantinuum in a report on Monday, June 29th. They set a “buy” rating on the stock.

Quantinuum Trading Up 8.9%

QNT stock opened at $51.55 on Friday. Quantinuum has a fifty-two week low of $47.06 and a fifty-two week high of $86.79. The stock’s fifty day moving average price is $63.91.

Insider Buying and Selling at Quantinuum

In related news, Director Kenneth D. Denman bought 14,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, for a total transaction of $840,000.00. Following the transaction, the director owned 19,833 shares in the company, valued at $1,189,980. The trade was a 240.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Manish H. Bhatia bought 20,000 shares of Quantinuum 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 $1,200,000.00. Following the completion of the acquisition, the director owned 25,833 shares in the company, valued at $1,549,980. This represents a 342.88% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 411,032 shares of company stock valued at $24,661,920 over the last ninety days.

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.