Quantinuum Inc. (NASDAQ:QNT) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Quantinuum has received an average analyst rating of “Moderate Buy” from 14 brokerages, with 12 buy ratings and two hold ratings. The average 12-month price target is $98.75.
• Several firms recently initiated coverage, including Bank of America and Craig Hallum with buy ratings, while Morgan Stanley assigned an equal-weight rating. Target prices ranged from $78 to $155.
• Insider buying has been notable, with directors Manish H. Bhatia and Kenneth D. Denman purchasing shares in June. Insiders bought a total of 411,032 shares worth about $24.7 million over the last quarter.

Shares of Quantinuum Inc. (NASDAQ:QNT - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $98.75.

A number of research firms have issued reports on QNT. Morgan Stanley assumed coverage on Quantinuum in a report on Monday, June 29th. They issued an "equal weight" rating and a $78.00 target price on the stock. Bank of America initiated coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a "buy" rating and a $100.00 target price on the stock. Craig Hallum began coverage on shares of Quantinuum in a report on Monday, June 29th. They issued a "buy" rating and a $100.00 target price on the stock. Rosenblatt Securities began coverage on Quantinuum in a research report on Monday, June 29th. They issued a "buy" rating and a $155.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued an "overweight" rating and a $97.00 target price for the company.

Insider Activity at Quantinuum

In other news, Director Manish H. Bhatia acquired 20,000 shares of the company's stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, with a total value of $1,200,000.00. Following the acquisition, the director owned 25,833 shares of the company's stock, valued at $1,549,980. This trade represents a 342.88% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth D. Denman bought 14,000 shares of the stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, with a total value of $840,000.00. Following the purchase, the director directly owned 19,833 shares of the company's stock, valued at approximately $1,189,980. This represents a 240.01% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 411,032 shares of company stock valued at $24,661,920 over the last quarter.

Quantinuum Stock Up 2.9%

Shares of NASDAQ:QNT opened at $56.46 on Friday. Quantinuum has a 1 year low of $50.10 and a 1 year high of $86.79.

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.

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