Quantinuum Inc. (NASDAQ:QNT) Sees Significant Increase in Short Interest

Quantinuum Inc. (NASDAQ:QNTGet 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

In other news, Director Michal Stepniak acquired 13,333 shares of Quantinuum stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $60.00 per share, for a total transaction of $799,980.00. Following the acquisition, the director owned 13,333 shares of the company’s stock, valued at $799,980. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Manish H. Bhatia bought 20,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were purchased 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 represents a 342.88% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 411,032 shares of company stock worth $24,661,920.

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

(Get Free Report)

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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