Quantinuum (NASDAQ:QNT) Coverage Initiated at Morgan Stanley

Stock analysts at Morgan Stanley initiated coverage on shares of Quantinuum (NASDAQ:QNT) in a note issued to investors on Monday, Marketbeat reports. The brokerage set an “equal weight” rating and a $78.00 price target on the stock. Morgan Stanley’s price objective indicates a potential upside of 3.90% from the company’s current price.

Several other analysts have also recently issued reports on the company. Evercore assumed coverage on Quantinuum in a research note on Monday. They issued an “outperform” rating and a $98.00 price objective on the stock. Jefferies Financial Group assumed coverage on Quantinuum in a research note on Monday. They issued a “buy” rating and a $90.00 price objective for the company. Mizuho began coverage on Quantinuum in a research report on Monday. They set an “outperform” rating and a $90.00 price objective for the company. Needham & Company LLC assumed coverage on shares of Quantinuum in a research note on Monday. They set a “buy” rating and a $100.00 target price on the stock. Finally, Wall Street Zen raised shares of Quantinuum to a “hold” rating in a report on Saturday, June 20th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Quantinuum currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.75.

Quantinuum Stock Down 0.7%

Shares of NASDAQ:QNT traded down $0.50 during mid-day trading on Monday, reaching $75.07. 596,477 shares of the company were exchanged, compared to its average volume of 4,074,856. Quantinuum has a 1 year low of $50.10 and a 1 year high of $81.48.

Insider Activity

In other news, Director Michal Stepniak acquired 13,333 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, for a total transaction of $799,980.00. Following the transaction, the director directly owned 13,333 shares in the company, valued at approximately $799,980. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth D. Denman acquired 14,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, for a total transaction of $840,000.00. Following the completion of the purchase, the director directly owned 19,833 shares in the company, valued at $1,189,980. This trade represents a 240.01% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 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.