Rosenblatt Securities reiterated their buy rating on shares of Quantinuum (NASDAQ:QNT – Free Report) in a research report released on Wednesday morning,Benzinga reports. The firm currently has a $155.00 target price on the stock.
QNT has been the topic of several other reports. Zacks Research upgraded Quantinuum to a “hold” rating in a research note on Tuesday, June 30th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Quantinuum in a research note on Wednesday, August 12th. Wall Street Zen lowered Quantinuum from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Mizuho assumed coverage on Quantinuum in a research note on Monday, June 29th. They issued an “outperform” rating and a $90.00 price objective on the stock. Finally, UBS Group initiated coverage on shares of Quantinuum in a report on Monday, June 29th. They set a “buy” rating and a $93.00 price objective on the stock. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $98.42.
Check Out Our Latest Stock Analysis on QNT
Quantinuum Trading Up 3.1%
Quantinuum (NASDAQ:QNT – Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $8.00 million for the quarter. As a group, sell-side analysts forecast that Quantinuum will post -1.64 EPS for the current fiscal year.
Insider Activity at Quantinuum
In related news, insider Kevin Scott Dehoff bought 15,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $60.00 per share, with a total value of $900,000.00. Following the acquisition, the insider directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth D. Denman purchased 14,000 shares of the firm’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 completion of the transaction, 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. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 411,032 shares of company stock worth $24,661,920 in the last 90 days.
Hedge Funds Weigh In On Quantinuum
Hedge funds have recently bought and sold shares of the company. Lisanti Capital Growth LLC bought a new stake in Quantinuum during the 2nd quarter worth approximately $409,000. Outfitters Financial LLC purchased a new stake in Quantinuum in the 2nd quarter worth approximately $511,000. Finally, Wellington Management Group LLP bought a new position in Quantinuum in the 2nd quarter valued at $92,418,000.
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.
Read More
- Five stocks we like better than Quantinuum
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
- Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
Receive News & Ratings for Quantinuum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantinuum and related companies with MarketBeat.com's FREE daily email newsletter.
