Quantinuum (NASDAQ:QNT) Upgraded by Zacks Research to Hold Rating

Quantinuum (NASDAQ:QNT) was upgraded by Zacks Research to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group initiated coverage on shares of Quantinuum in a report on Monday. They issued a “buy” rating and a $90.00 target price on the stock. Bank of America began coverage on shares of Quantinuum in a report on Monday. They set a “buy” rating and a $100.00 price target for the company. Morgan Stanley assumed coverage on Quantinuum in a report on Monday. They issued an “equal weight” rating and a $78.00 price objective on the stock. Rosenblatt Securities began coverage on Quantinuum in a research report on Monday. They issued a “buy” rating and a $155.00 price objective for the company. Finally, TD Cowen initiated coverage on Quantinuum in a research note on Monday. They set a “buy” rating for the company. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Quantinuum has a consensus rating of “Buy” and a consensus price target of $98.75.

Quantinuum Stock Performance

NASDAQ QNT opened at $78.41 on Tuesday. Quantinuum has a 52 week low of $50.10 and a 52 week high of $82.30.

Insiders Place Their Bets

In related news, Director Paul R. Daugherty acquired 4,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, for a total transaction of $240,000.00. Following the acquisition, the director owned 9,833 shares in the company, valued at $589,980. The trade was a 68.58% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Manish H. Bhatia acquired 20,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average cost of $60.00 per share, with a total value of $1,200,000.00. Following the transaction, the director directly owned 25,833 shares in the company, valued at $1,549,980. This trade represents a 342.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders 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.