Quantinuum (NASDAQ:QNT) Reaches New 1-Year High – Should You Buy?

Shares of Quantinuum Inc. (NASDAQ:QNT) hit a new 52-week high on Monday . The stock traded as high as $82.82 and last traded at $82.73, with a volume of 719556 shares traded. The stock had previously closed at $74.56.

Analysts Set New Price Targets

A number of research analysts have issued reports on QNT shares. Bank of America started coverage on Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $100.00 target price on the stock. TD Cowen assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating on the stock. Craig Hallum initiated coverage on shares of Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $100.00 price objective for the company. Jefferies Financial Group began coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Evercore began coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued an “outperform” rating and a $98.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.75.

Quantinuum Stock Up 9.9%

Insider Buying and Selling

In other Quantinuum news, Director Manish H. Bhatia bought 20,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, with a total value of $1,200,000.00. Following the acquisition, the director directly 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth D. Denman purchased 14,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was acquired 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 owned 19,833 shares in the company, valued at approximately $1,189,980. This trade represents a 240.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 411,032 shares of company stock valued at $24,661,920 over the last three months.

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.