Quantinuum (NASDAQ:QNT) Shares Up 6.3% - Should You Buy?

Key Points

• Quantinuum shares rose 6.3% on Monday, trading as high as $60.89 before finishing at $59.60, though volume was well below average.
• Several analysts initiated coverage with bullish ratings, including multiple Buy/Outperform calls and price targets ranging from $90 to $155. The consensus rating is Moderate Buy with an average target of $98.75.
• Insiders have been buying the stock, including director Kenneth D. Denman and insider Kevin Scott Dehoff; over the past 90 days, insiders purchased 411,032 shares worth about $24.7 million.

Quantinuum Inc. (NASDAQ:QNT - Get Free Report)'s stock price traded up 6.3% on Monday . The company traded as high as $60.89 and last traded at $59.60. 637,559 shares traded hands during trading, a decline of 81% from the average session volume of 3,378,144 shares. The stock had previously closed at $56.07.

Analysts Set New Price Targets

A number of analysts have issued reports on QNT shares. Mizuho began coverage on Quantinuum in a research report on Monday, June 29th. They issued an "outperform" rating and a $90.00 target price on the stock. UBS Group started coverage on Quantinuum in a research report on Monday, June 29th. They set a "buy" rating and a $93.00 price target for the company. Evercore assumed coverage on Quantinuum in a research note on Monday, June 29th. They issued an "outperform" rating and a $98.00 price objective for the company. TD Cowen initiated coverage on Quantinuum in a research note on Monday, June 29th. They set a "buy" rating on the stock. Finally, Rosenblatt Securities started coverage on Quantinuum in a report on Monday, June 29th. They set a "buy" rating and a $155.00 target price for the company. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.75.

Quantinuum Trading Up 4.0%

Insiders Place Their Bets

In other news, Director Kenneth D. Denman bought 14,000 shares of Quantinuum stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average price of $60.00 per share, with a total value of $840,000.00. Following the completion of the acquisition, the director directly owned 19,833 shares in the company, valued at $1,189,980. The trade was a 240.01% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin Scott Dehoff purchased 15,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $60.00 per share, with a total value of $900,000.00. Following the purchase, the insider directly owned 126,460 shares of the company's stock, valued at $7,587,600. The trade was a 13.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 411,032 shares of company stock worth $24,661,920.

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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