Quantinuum (NASDAQ:QNT) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Quantinuum (NASDAQ:QNT) to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other analysts have also commented on the stock. Cantor Fitzgerald started coverage on shares of Quantinuum in a research note on Monday. They issued an “overweight” rating and a $90.00 price target for the company. UBS Group assumed coverage on shares of Quantinuum in a research report on Monday. They set a “buy” rating and a $93.00 price objective on the stock. Rosenblatt Securities started coverage on shares of Quantinuum in a report on Monday. They issued a “buy” rating and a $155.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Quantinuum in a research report on Monday. They issued an “overweight” rating and a $97.00 target price for the company. Finally, Morgan Stanley started coverage on shares of Quantinuum in a research note on Monday. They set an “equal weight” rating and a $78.00 target price for the company. Four analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $98.75.

Quantinuum Stock Performance

NASDAQ QNT opened at $78.41 on Tuesday. Quantinuum has a one year low of $50.10 and a one year high of $82.30.

Insider Activity

In other Quantinuum news, Director Manish H. Bhatia acquired 20,000 shares of the stock in a transaction dated Friday, June 5th. The shares were 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 of the company’s stock, 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 filing with the SEC, which is accessible through this link. Also, insider Kevin Scott Dehoff acquired 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average cost of $60.00 per share, for a total transaction of $900,000.00. Following the acquisition, the insider owned 126,460 shares of the company’s stock, valued at $7,587,600. The trade was a 13.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 411,032 shares of company stock worth $24,661,920.

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.