Quantinuum (NASDAQ:QNT) Given Buy Rating at Rosenblatt Securities

Quantinuum (NASDAQ:QNT)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $155.00 price objective on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 160.50% from the stock’s previous close.

QNT has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Quantinuum in a report on Wednesday, August 12th. Bank of America started coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 target price for the company. Morgan Stanley started coverage on Quantinuum in a research report on Monday, June 29th. They set an “equal weight” rating and a $78.00 target price on the stock. Mizuho initiated coverage on Quantinuum in a research note on Monday, June 29th. They set an “outperform” rating and a $90.00 price target on the stock. Finally, Evercore began coverage on Quantinuum in a report on Monday, June 29th. They issued an “outperform” rating and a $98.00 price target for the company. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.42.

Quantinuum Stock Performance

Shares of Quantinuum stock opened at $59.50 on Wednesday. Quantinuum has a 1 year low of $47.06 and a 1 year high of $86.79. The business has a fifty day moving average of $63.44.

Quantinuum (NASDAQ:QNT) last released its earnings results on Tuesday, August 11th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.02). The company had revenue of $8.00 million for the quarter. On average, sell-side analysts anticipate that Quantinuum will post -1.64 earnings per share for the current year.

Insider Activity at Quantinuum

In other Quantinuum news, Director Hal Barron purchased 250,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $60.00 per share, with a total value of $15,000,000.00. Following the completion of the transaction, the director directly owned 255,833 shares of the company’s stock, valued at approximately $15,349,980. This trade represents a 4,285.96% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Manish H. Bhatia purchased 20,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, with a total value of $1,200,000.00. Following the purchase, the director owned 25,833 shares of the company’s stock, valued at approximately $1,549,980. This trade represents a 342.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 411,032 shares of company stock worth $24,661,920 in the last ninety days.

Hedge Funds Weigh In On Quantinuum

An institutional investor recently bought a new position in Quantinuum stock. Lisanti Capital Growth LLC purchased a new stake in Quantinuum Inc. (NASDAQ:QNT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 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.