Quantinuum (NASDAQ:QNT) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. assumed coverage on shares of Quantinuum (NASDAQ:QNT) in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage set an “overweight” rating and a $97.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 29.21% from the stock’s previous close.

A number of other research analysts also recently weighed in on QNT. TD Cowen initiated coverage on shares of Quantinuum in a research report on Monday. They set a “buy” rating for the company. Craig Hallum assumed coverage on Quantinuum in a research report on Monday. They issued a “buy” rating and a $100.00 target price for the company. Sanford C. Bernstein began coverage on Quantinuum in a research report on Monday. They set an “outperform” rating and a $94.00 price target on the stock. Needham & Company LLC assumed coverage on Quantinuum in a research note on Monday. They set a “buy” rating and a $100.00 price target for the company. Finally, UBS Group assumed coverage on Quantinuum in a report on Monday. They issued a “buy” rating and a $93.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.75.

Quantinuum Stock Down 0.7%

QNT stock traded down $0.50 during trading on Monday, reaching $75.07. The stock had a trading volume of 596,477 shares, compared to its average volume of 4,074,856. Quantinuum has a one year low of $50.10 and a one year high of $81.48.

Insider Transactions at Quantinuum

In other Quantinuum news, insider Kevin Scott Dehoff acquired 15,000 shares of the stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, for a total transaction of $900,000.00. Following the acquisition, the insider owned 126,460 shares in the company, valued at $7,587,600. The trade was a 13.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Manish H. Bhatia bought 20,000 shares of the company’s 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 $1,200,000.00. Following the completion of the acquisition, the director directly owned 25,833 shares in the company, valued at $1,549,980. This trade represents a 342.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have purchased 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.