Quantinuum (NASDAQ:QNT) Stock Rating Upgraded by Evercore

Quantinuum (NASDAQ:QNT) was upgraded by equities researchers at Evercore to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

QNT has been the topic of a number of other research reports. Bank of America assumed coverage on shares of Quantinuum in a research report on Monday. They issued a “buy” rating and a $100.00 target price on the stock. Jefferies Financial Group initiated coverage on Quantinuum in a research note on Monday. They issued a “buy” rating and a $90.00 price target for the company. Sanford C. Bernstein assumed coverage on Quantinuum in a report on Monday. They set an “outperform” rating and a $94.00 price objective on the stock. Needham & Company LLC started coverage on Quantinuum in a research report on Monday. They set a “buy” rating and a $100.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Quantinuum in a report on Monday. They issued an “overweight” rating and a $97.00 target price for the company. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $98.75.

Quantinuum Stock Performance

Shares of Quantinuum stock opened at $72.84 on Monday. Quantinuum has a 1 year low of $50.10 and a 1 year high of $81.48.

Insider Activity

In related news, insider Kevin Scott Dehoff bought 15,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, with a total value of $900,000.00. Following the acquisition, the insider owned 126,460 shares of the company’s stock, valued at $7,587,600. This represents a 13.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Manish H. Bhatia purchased 20,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The stock was bought at an average price of $60.00 per share, for a total transaction of $1,200,000.00. Following the transaction, the director directly owned 25,833 shares in the company, valued at approximately $1,549,980. The trade was a 342.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have purchased 411,032 shares of company stock valued at $24,661,920.

Quantinuum News Summary

Here are the key news stories impacting Quantinuum this week:

• Positive Sentiment: Multiple firms initiated coverage on Quantinuum with bullish calls, including JPMorgan, Rosenblatt, Craig Hallum, Bank of America, Needham, Mizuho, and Sanford C. Bernstein, with several price targets implying meaningful upside. Analyst coverage and price targets
• Positive Sentiment: Rosenblatt was the most bullish, assigning a buy rating and a $155 target, signaling strong confidence in Quantinuum’s long-term growth potential. Rosenblatt coverage
• Positive Sentiment: Congressional trading activity also drew attention after Rep. Cleo Fields reportedly made a new quantum-related bet, adding to investor interest in the sector. Congressman Who Buys Magnificent Seven Stocks With Size Made New Quantum Bet
• Neutral Sentiment: Morgan Stanley initiated coverage with an equal weight rating and a $78 target, which is more cautious than peers but still above the recent trading level. Morgan Stanley coverage
• Negative Sentiment: Despite the bullish analyst wave, the stock has been falling, suggesting investors may be taking profits or reacting to valuation concerns after the sharp run-up in interest around quantum computing. Quantinuum stock falls: why is Wall Street bullish on the stock?

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.