Quantinuum (NASDAQ:QNT) Coverage Initiated by Analysts at Needham & Company LLC

Analysts at Needham & Company LLC started coverage on shares of Quantinuum (NASDAQ:QNT) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “buy” rating and a $100.00 price target on the stock. Needham & Company LLC’s target price would suggest a potential upside of 32.33% from the stock’s current price.

Several other research firms have also recently weighed in on QNT. Wall Street Zen upgraded Quantinuum to a “hold” rating in a research note on Saturday, June 20th. Cantor Fitzgerald started coverage on Quantinuum in a research report on Monday. They set an “overweight” rating on the stock. TD Cowen assumed coverage on Quantinuum in a research report on Monday. They issued a “buy” rating for the company. Evercore began coverage on shares of Quantinuum in a research note on Monday. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Quantinuum in a research note on Monday. They issued a “buy” rating and a $90.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $92.00.

Quantinuum Price Performance

Shares of NASDAQ QNT opened at $75.57 on Monday. Quantinuum has a twelve month low of $50.10 and a twelve month high of $81.48.

Insider Buying and Selling

In other news, insider Kevin Scott Dehoff bought 15,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $60.00 per share, with a total value of $900,000.00. Following the completion of the transaction, the insider owned 126,460 shares of the company’s stock, valued at approximately $7,587,600. This trade represents a 13.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hal Barron purchased 250,000 shares of Quantinuum stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $60.00 per share, with a total value of $15,000,000.00. Following the transaction, the director directly owned 255,833 shares in the company, valued at approximately $15,349,980. The trade was a 4,285.96% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 411,032 shares of company stock valued at $24,661,920 in the last 90 days.

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.