Morgan Stanley Begins Coverage on Quantinuum (NASDAQ:QNT)

Research analysts at Morgan Stanley initiated coverage on shares of Quantinuum (NASDAQ:QNT) in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage set an “equal weight” rating and a $78.00 price target on the stock. Morgan Stanley’s price objective points to a potential upside of 3.90% from the company’s previous close.

Several other brokerages have also issued reports on QNT. Needham & Company LLC assumed coverage on Quantinuum in a research report on Monday. They set a “buy” rating and a $100.00 target price on the stock. Bank of America started coverage on shares of Quantinuum in a research report on Monday. They issued a “buy” rating and a $100.00 price objective for the company. Mizuho began coverage on shares of Quantinuum in a research report on Monday. They set an “outperform” rating and a $90.00 target price on the stock. Craig Hallum initiated coverage on shares of Quantinuum in a report on Monday. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Rosenblatt Securities initiated coverage on Quantinuum in a research report on Monday. They issued a “buy” rating and a $155.00 target price on the stock. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.75.

Quantinuum Price Performance

Shares of QNT stock traded down $0.50 during mid-day trading on Monday, hitting $75.07. 596,477 shares of the stock traded hands, compared to its average volume of 4,074,856. Quantinuum has a 52-week low of $50.10 and a 52-week high of $81.48.

Insider Buying and Selling at Quantinuum

In other Quantinuum news, Director Hal Barron bought 250,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $60.00 per share, with a total value of $15,000,000.00. Following the completion of the acquisition, the director directly owned 255,833 shares of the company’s stock, valued at $15,349,980. This represents a 4,285.96% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Manish H. Bhatia purchased 20,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, for a total transaction of $1,200,000.00. Following the completion of the transaction, the director directly owned 25,833 shares of the company’s stock, valued at $1,549,980. The trade was a 342.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have acquired 411,032 shares of company stock valued at $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.