Quantinuum (NASDAQ:QNT) Now Covered by Bank of America

Research analysts at Bank of America began coverage on shares of Quantinuum (NASDAQ:QNT) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “buy” rating and a $100.00 price target on the stock. Bank of America‘s price objective suggests a potential upside of 32.33% from the company’s previous close.

QNT has been the subject of several other reports. Needham & Company LLC started coverage on shares of Quantinuum in a research note on Monday. They issued a “buy” rating and a $100.00 target price for the company. Cantor Fitzgerald assumed coverage on shares of Quantinuum in a research report on Monday. They issued an “overweight” rating for the company. Jefferies Financial Group began coverage on shares of Quantinuum in a research note on Monday. They set a “buy” rating and a $90.00 target price on the stock. Wall Street Zen upgraded Quantinuum to a “hold” rating in a research note on Saturday, June 20th. Finally, Evercore began coverage on Quantinuum in a report on Monday. They issued an “outperform” rating for the company. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $92.00.

Quantinuum Price Performance

Shares of 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.

Insiders Place Their Bets

In related news, Director Paul R. Daugherty bought 4,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average price of $60.00 per share, with a total value of $240,000.00. Following the completion of the purchase, the director directly owned 9,833 shares of the company’s stock, valued at approximately $589,980. This trade represents a 68.58% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Kevin Scott Dehoff purchased 15,000 shares of Quantinuum stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $60.00 per share, with a total value of $900,000.00. Following the transaction, the insider owned 126,460 shares in the company, valued at approximately $7,587,600. The trade was a 13.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have 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.