Quantinuum (NASDAQ:QNT) Now Covered by Analysts at Craig Hallum

Equities research analysts at Craig Hallum assumed coverage on shares of Quantinuum (NASDAQ:QNT) in a note issued to investors on Monday, Marketbeat reports. The firm set a “buy” rating and a $100.00 price target on the stock. Craig Hallum’s target price would suggest a potential upside of 32.33% from the stock’s current price.

Several other equities research analysts have also weighed in on QNT. TD Cowen initiated coverage on shares of Quantinuum in a research note on Monday. They set a “buy” rating on the stock. UBS Group started coverage on Quantinuum in a research report on Monday. They issued a “buy” rating on the stock. Mizuho initiated coverage on Quantinuum in a research note on Monday. They issued an “outperform” rating and a $90.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Quantinuum in a report on Monday. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, Needham & Company LLC assumed coverage on shares of Quantinuum in a research report on Monday. They issued a “buy” rating and a $100.00 price objective on the stock. Eleven analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Quantinuum presently has a consensus rating of “Buy” and an average target price of $93.33.

Quantinuum Price Performance

Quantinuum stock opened at $75.57 on Monday. Quantinuum has a 1 year low of $50.10 and a 1 year high of $81.48.

Insider Activity

In related news, insider Kevin Scott Dehoff acquired 15,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $60.00 per share, for a total transaction of $900,000.00. Following the completion of the acquisition, the insider directly owned 126,460 shares of the company’s stock, valued at approximately $7,587,600. The trade was a 13.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through 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 shares were purchased at an average cost of $60.00 per share, for a total transaction of $3,999,900.00. Following the acquisition, the director owned 72,498 shares of the company’s stock, valued at $4,349,880. This represents a 1,142.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 411,032 shares of company stock worth $24,661,920 in the last 90 days.

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.