Zacks Research Upgrades Quantinuum (NASDAQ:QNT) to “Hold”

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

Several other equities analysts have also recently commented on QNT. Needham & Company LLC initiated coverage on shares of Quantinuum in a research report on Monday. They issued a “buy” rating and a $100.00 price target for the company. Wall Street Zen raised Quantinuum to a “hold” rating in a research report on Saturday, June 20th. TD Cowen began coverage on Quantinuum in a report on Monday. They issued a “buy” rating for the company. Evercore began coverage on Quantinuum in a research note on Monday. They set an “outperform” rating and a $98.00 target price for the company. Finally, Bank of America assumed coverage on Quantinuum in a report on Monday. They set a “buy” rating and a $100.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Quantinuum presently has a consensus rating of “Buy” and a consensus target price of $98.75.

Quantinuum Price Performance

Shares of QNT stock opened at $78.41 on Tuesday. Quantinuum has a fifty-two week low of $50.10 and a fifty-two week high of $82.30.

Insiders Place Their Bets

In other news, Director Kenneth D. Denman purchased 14,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were bought at an average price of $60.00 per share, with a total value of $840,000.00. Following the completion of the transaction, the director directly owned 19,833 shares in the company, valued at approximately $1,189,980. This represents a 240.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Manish H. Bhatia acquired 20,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $60.00 per share, with a total value of $1,200,000.00. Following the purchase, the director owned 25,833 shares of the company’s stock, valued at $1,549,980. The trade was a 342.88% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 411,032 shares of company stock worth $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.