Brokerages Set Quantinuum Inc. (NASDAQ:QNT) Target Price at $98.75

Quantinuum Inc. (NASDAQ:QNT) has been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $98.75.

A number of brokerages have weighed in on QNT. Craig Hallum began coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $100.00 price objective for the company. Zacks Research upgraded Quantinuum to a “hold” rating in a research report on Tuesday, June 30th. Rosenblatt Securities initiated coverage on Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $155.00 price target for the company. TD Cowen began coverage on Quantinuum in a report on Monday, June 29th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. started coverage on Quantinuum in a research report on Monday, June 29th. They set an “overweight” rating and a $97.00 price target on the stock.

Quantinuum Stock Performance

QNT stock opened at $52.29 on Friday. Quantinuum has a one year low of $50.10 and a one year high of $86.79.

Insider Buying and Selling at Quantinuum

In other Quantinuum news, Director Kenneth D. Denman bought 14,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average price of $60.00 per share, for a total transaction of $840,000.00. Following the transaction, the director directly owned 19,833 shares of the company’s stock, valued at approximately $1,189,980. This represents a 240.01% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kevin Scott Dehoff purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was bought at an average cost of $60.00 per share, for a total transaction of $900,000.00. Following the purchase, the insider directly owned 126,460 shares in the company, valued at $7,587,600. This trade represents a 13.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 411,032 shares of company stock worth $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.