Mizuho Initiates Coverage on Quantinuum (NASDAQ:QNT)

Equities researchers at Mizuho initiated coverage on shares of Quantinuum (NASDAQ:QNT) in a research note issued to investors on Monday,Benzinga reports. The firm set an “outperform” rating and a $90.00 price target on the stock. Mizuho’s price target would indicate a potential upside of 19.09% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the company. Rosenblatt Securities began coverage on Quantinuum in a report on Monday. They issued a “buy” rating on the stock. TD Cowen started coverage on shares of Quantinuum in a research report on Monday. They set a “buy” rating on the stock. Wall Street Zen raised shares of Quantinuum to a “hold” rating in a research note on Saturday, June 20th. Cantor Fitzgerald assumed coverage on shares of Quantinuum in a research report on Monday. They set an “overweight” rating for the company. Finally, UBS Group initiated coverage on shares of Quantinuum in a research note on Monday. They set a “buy” rating for the company. Nine equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $91.60.

Quantinuum Stock Performance

NASDAQ QNT opened at $75.57 on Monday. Quantinuum has a 52 week low of $50.10 and a 52 week high of $81.48.

Insider Activity

In other news, Director Kenneth D. Denman acquired 14,000 shares of Quantinuum stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, with a total value of $840,000.00. Following the purchase, the director directly owned 19,833 shares of the company’s stock, valued at $1,189,980. The trade was a 240.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Jimenez acquired 66,665 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average price of $60.00 per share, with a total value of $3,999,900.00. Following the acquisition, the director owned 72,498 shares of the company’s stock, valued at approximately $4,349,880. This trade represents a 1,142.89% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 411,032 shares of company stock valued at $24,661,920.

About Quantinuum

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.