Quantinuum (NASDAQ:QNT) Earns Buy Rating from Analysts at Needham & Company LLC

Investment analysts at Needham & Company LLC assumed coverage on shares of Quantinuum (NASDAQ:QNT) in a report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $100.00 price target on the stock. Needham & Company LLC’s price target suggests a potential upside of 32.33% from the stock’s previous close.

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

Quantinuum Price Performance

QNT stock 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, Director Michal Stepniak acquired 13,333 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was purchased at an average price of $60.00 per share, for a total transaction of $799,980.00. Following the completion of the transaction, the director directly owned 13,333 shares in the company, valued at approximately $799,980. This trade represents a ? increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin Scott Dehoff bought 15,000 shares of Quantinuum stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, for a total transaction of $900,000.00. Following the completion of the acquisition, the insider directly owned 126,460 shares of the company’s stock, valued at approximately $7,587,600. The trade was a 13.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 411,032 shares of company stock worth $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.