Equities researchers at Rosenblatt Securities initiated coverage on shares of Quantinuum (NASDAQ:QNT – Get Free Report) in a report released on Monday,Benzinga reports. The brokerage set a “buy” rating on the stock.
A number of other analysts have also commented on the company. Needham & Company LLC started coverage on Quantinuum in a research note on Monday. They set a “buy” rating and a $100.00 price target on the stock. Cantor Fitzgerald assumed coverage on Quantinuum in a research note on Monday. They issued an “overweight” rating for the company. Jefferies Financial Group initiated coverage on shares of Quantinuum in a research report on Monday. They set a “buy” rating and a $90.00 target price on the stock. TD Cowen began coverage on shares of Quantinuum in a report on Monday. They set a “buy” rating on the stock. Finally, Evercore started coverage on shares of Quantinuum in a research report on Monday. They issued an “outperform” rating for the company. Nine analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $91.60.
Quantinuum Price Performance
Insider Activity at Quantinuum
In related news, Director Kenneth D. Denman bought 14,000 shares of Quantinuum stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $60.00 per share, for a total transaction of $840,000.00. Following the completion of the acquisition, the director directly owned 19,833 shares of the company’s stock, valued at approximately $1,189,980. The trade was a 240.01% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hal Barron bought 250,000 shares of the firm’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 $15,000,000.00. Following the transaction, the director directly owned 255,833 shares in the company, valued at approximately $15,349,980. This trade represents a 4,285.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 411,032 shares of company stock valued at $24,661,920 over the last ninety days.
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.
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