Quantinuum (NASDAQ:QNT) Downgraded to Sell Rating by Wall Street Zen

Quantinuum (NASDAQ:QNT) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other equities research analysts have also issued reports about the stock. TD Cowen began coverage on shares of Quantinuum in a research note on Monday. They set a “buy” rating for the company. JPMorgan Chase & Co. initiated coverage on Quantinuum in a research note on Monday, June 29th. They issued an “overweight” rating and a $97.00 price target on the stock. Cantor Fitzgerald initiated coverage on Quantinuum in a report on Monday. They issued an “overweight” rating and a $90.00 price objective for the company. Bank of America initiated coverage on Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Jefferies Financial Group started coverage on Quantinuum in a report on Monday. They issued a “buy” rating and a $90.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $98.75.

Quantinuum Price Performance

Shares of Quantinuum stock opened at $74.56 on Friday. Quantinuum has a twelve month low of $50.10 and a twelve month high of $82.30.

Insider Activity

In other Quantinuum news, Director Manish H. Bhatia purchased 20,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were acquired at an average cost 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. The trade was a 342.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul R. Daugherty bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $60.00 per share, for a total transaction of $240,000.00. Following the purchase, the director directly owned 9,833 shares in the company, valued at $589,980. This trade represents a 68.58% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders purchased 411,032 shares of company stock worth $24,661,920.

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.