Quantinuum’s (QNT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Quantinuum (NASDAQ:QNT) in a report published on Wednesday,Benzinga reports. The firm currently has a $100.00 price target on the stock.

Other research analysts also recently issued research reports about the company. UBS Group started coverage on Quantinuum in a report on Monday, June 29th. They set a “buy” rating and a $93.00 price target on the stock. Craig Hallum assumed coverage on Quantinuum in a report on Monday, June 29th. They issued a “buy” rating and a $100.00 price objective for the company. Rosenblatt Securities started coverage on Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $155.00 price objective on the stock. Sanford C. Bernstein started coverage on Quantinuum in a research note on Monday, June 29th. They set an “outperform” rating and a $94.00 target price on the stock. Finally, Mizuho assumed coverage on Quantinuum in a report on Monday, June 29th. They set an “outperform” rating and a $90.00 target price for the company. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.42.

Quantinuum Price Performance

Shares of QNT opened at $63.58 on Wednesday. Quantinuum has a twelve month low of $47.06 and a twelve month high of $86.79. The firm’s fifty day moving average price is $63.20.

Quantinuum (NASDAQ:QNT) last released its quarterly earnings data on Tuesday, August 11th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.02). The business had revenue of $8.00 million for the quarter. As a group, equities research analysts forecast that Quantinuum will post -1.6 EPS for the current fiscal year.

Insider Activity at Quantinuum

In other news, Director Joseph Jimenez acquired 66,665 shares of the business’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $60.00 per share, with a total value of $3,999,900.00. Following the transaction, the director owned 72,498 shares in the company, valued at $4,349,880. The trade was a 1,142.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Hal Barron bought 250,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $60.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the director directly owned 255,833 shares in the company, valued at approximately $15,349,980. This trade represents a 4,285.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 411,032 shares of company stock valued at $24,661,920 over the last three months.

Institutional Investors Weigh In On Quantinuum

An institutional investor recently bought a new stake in Quantinuum stock. Lisanti Capital Growth LLC acquired a new position in Quantinuum Inc. (NASDAQ:QNT) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,005 shares of the company’s stock, valued at approximately $409,000.

Quantinuum Company Profile

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.