Quantinuum (NASDAQ:QNT) Upgraded to “Strong-Buy” at Evercore

Evercore upgraded shares of Quantinuum (NASDAQ:QNT) to a strong-buy rating in a research note released on Monday morning,Zacks.com reports.

QNT has been the subject of several other research reports. Bank of America started coverage on shares of Quantinuum in a research note on Monday. They issued a “buy” rating and a $100.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Quantinuum in a research report on Monday. They set a “buy” rating and a $90.00 price target on the stock. Morgan Stanley started coverage on Quantinuum in a research note on Monday. They set an “equal weight” rating and a $78.00 target price for the company. Craig Hallum started coverage on Quantinuum in a research report on Monday. They issued a “buy” rating and a $100.00 target price on the stock. Finally, UBS Group started coverage on Quantinuum in a research note on Monday. They issued a “buy” rating and a $93.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Quantinuum has a consensus rating of “Buy” and a consensus target price of $98.75.

Quantinuum Trading Down 3.6%

Quantinuum stock opened at $72.84 on Monday. Quantinuum has a 12-month low of $50.10 and a 12-month high of $81.48.

Insider Transactions at Quantinuum

In related news, Director Manish H. Bhatia acquired 20,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 25,833 shares of the company’s stock, valued at approximately $1,549,980. This trade represents a 342.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Jimenez bought 66,665 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average price of $60.00 per share, with a total value of $3,999,900.00. Following the acquisition, the director directly owned 72,498 shares in the company, valued at $4,349,880. The trade was a 1,142.89% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 411,032 shares of company stock worth $24,661,920.

Trending Headlines about Quantinuum

Here are the key news stories impacting Quantinuum this week:

• Positive Sentiment: Multiple firms initiated coverage on Quantinuum with bullish calls, including JPMorgan, Rosenblatt, Craig Hallum, Bank of America, Needham, Mizuho, and Sanford C. Bernstein, with several price targets implying meaningful upside. Analyst coverage and price targets
• Positive Sentiment: Rosenblatt was the most bullish, assigning a buy rating and a $155 target, signaling strong confidence in Quantinuum’s long-term growth potential. Rosenblatt coverage
• Positive Sentiment: Congressional trading activity also drew attention after Rep. Cleo Fields reportedly made a new quantum-related bet, adding to investor interest in the sector. Congressman Who Buys Magnificent Seven Stocks With Size Made New Quantum Bet
• Neutral Sentiment: Morgan Stanley initiated coverage with an equal weight rating and a $78 target, which is more cautious than peers but still above the recent trading level. Morgan Stanley coverage
• Negative Sentiment: Despite the bullish analyst wave, the stock has been falling, suggesting investors may be taking profits or reacting to valuation concerns after the sharp run-up in interest around quantum computing. Quantinuum stock falls: why is Wall Street bullish on the stock?

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.