Quantinuum Inc. (NASDAQ:QNT) Receives Consensus Recommendation of “Buy” from Analysts

Quantinuum Inc. (NASDAQ:QNT) has received a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $92.00.

Several equities research analysts have commented on the company. UBS Group assumed coverage on Quantinuum in a research note on Monday. They set a “buy” rating for the company. Needham & Company LLC assumed coverage on Quantinuum in a research report on Monday. They issued a “buy” rating and a $100.00 price target for the company. Wall Street Zen upgraded Quantinuum to a “hold” rating in a research report on Saturday, June 20th. Bank of America assumed coverage on Quantinuum in a research report on Monday. They issued a “buy” rating and a $100.00 price target for the company. Finally, TD Cowen assumed coverage on Quantinuum in a research report on Monday. They issued a “buy” rating for the company.

Insiders Place Their Bets

In related news, Director Kenneth D. Denman purchased 14,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $60.00 per share, for a total transaction of $840,000.00. Following the completion of the transaction, the director directly owned 19,833 shares of the company’s stock, valued at approximately $1,189,980. This trade represents a 240.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul R. Daugherty purchased 4,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $60.00 per share, with a total value of $240,000.00. Following the completion of the transaction, the director directly owned 9,833 shares of the company’s stock, valued at approximately $589,980. This represents a 68.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 411,032 shares of company stock valued at $24,661,920.

Quantinuum Stock Performance

NASDAQ:QNT opened at $75.57 on Monday. Quantinuum has a 12 month low of $50.10 and a 12 month high of $81.48.

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.