Quantinuum Inc. (NASDAQ:QNT) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Quantinuum Inc. (NASDAQ:QNT) have been assigned an average recommendation of “Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have covered the stock in the last year is $92.00.

A number of analysts have commented on the company. Bank of America assumed coverage on Quantinuum in a research report on Monday. They set a “buy” rating and a $100.00 price target for the company. UBS Group assumed coverage on Quantinuum in a report on Monday. They issued a “buy” rating for the company. Cantor Fitzgerald assumed coverage on Quantinuum in a report on Monday. They issued an “overweight” rating for the company. TD Cowen assumed coverage on Quantinuum in a report on Monday. They issued a “buy” rating for the company. Finally, Needham & Company LLC assumed coverage on Quantinuum in a report on Monday. They issued a “buy” rating and a $100.00 price objective for the company.

Insiders Place Their Bets

In other Quantinuum news, Director Manish H. Bhatia purchased 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $60.00 per share, for a total transaction of $1,200,000.00. Following the purchase, the director directly owned 25,833 shares in the company, valued at approximately $1,549,980. This trade represents a 342.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin Scott Dehoff purchased 15,000 shares of the business’s stock in a transaction that occurred 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 purchase, the insider owned 126,460 shares in the company, valued at $7,587,600. This represents a 13.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 411,032 shares of company stock worth $24,661,920.

Quantinuum Price Performance

Quantinuum stock opened at $75.57 on Monday. Quantinuum has a 1-year low of $50.10 and a 1-year high of $81.48.

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.