Quantinuum Inc. (NASDAQ:QNT – Get Free Report) saw a large growth in short interest in June. As of June 15th, there was short interest totaling 2,925,284 shares, a growth of ∞ from the May 31st total of 0 shares. Based on an average trading volume of 5,589,953 shares, the short-interest ratio is currently 0.5 days. Approximately 1.1% of the company’s stock are sold short.
Wall Street Analyst Weigh In
QNT has been the subject of several recent analyst reports. Morgan Stanley started coverage on Quantinuum in a research note on Monday. They set an “equal weight” rating and a $78.00 target price for the company. Jefferies Financial Group began coverage on shares of Quantinuum in a research note on Monday. They issued a “buy” rating and a $90.00 price target on the stock. Wall Street Zen upgraded shares of Quantinuum to a “hold” rating in a research report on Saturday, June 20th. UBS Group began coverage on shares of Quantinuum in a report on Monday. They issued a “buy” rating and a $93.00 target price for the company. Finally, Sanford C. Bernstein initiated coverage on shares of Quantinuum in a research report on Monday. They issued an “outperform” rating and a $94.00 target price on the stock. One investment 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.75.
Check Out Our Latest Stock Analysis on QNT
Insider Buying and Selling
Quantinuum Stock Performance
Shares of QNT traded down $3.85 during mid-day trading on Thursday, reaching $74.56. 2,873,264 shares of the company’s stock were exchanged, compared to its average volume of 4,251,687. Quantinuum has a 52-week low of $50.10 and a 52-week high of $82.30.
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.
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