Quantinuum (NASDAQ:QNT) Stock Price Down 8.2% – Should You Sell?

Quantinuum Inc. (NASDAQ:QNTGet Free Report)’s share price fell 8.2% during trading on Monday . The company traded as low as $64.55 and last traded at $64.64. 666,721 shares were traded during trading, a decline of 82% from the average session volume of 3,752,017 shares. The stock had previously closed at $70.45.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on QNT. Mizuho assumed coverage on shares of Quantinuum in a report on Monday, June 29th. They issued an “outperform” rating and a $90.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Quantinuum in a report on Monday, June 29th. They set a “buy” rating and a $90.00 price target for the company. Craig Hallum initiated coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $100.00 price objective on the stock. UBS Group assumed coverage on shares of Quantinuum in a report on Monday, June 29th. They issued a “buy” rating and a $93.00 price objective on the stock. Finally, Wall Street Zen cut shares of Quantinuum from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Quantinuum presently has a consensus rating of “Moderate Buy” and an average price target of $98.75.

View Our Latest Research Report on QNT

Quantinuum Stock Performance

Insider Buying and Selling at Quantinuum

In related news, insider Kevin Scott Dehoff bought 15,000 shares of the stock in a transaction dated Friday, June 5th. The stock was acquired at an average price 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 approximately $7,587,600. This represents a 13.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michal Stepniak purchased 13,333 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $60.00 per share, for a total transaction of $799,980.00. Following the completion of the purchase, the director directly owned 13,333 shares in the company, valued at $799,980. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 411,032 shares of company stock worth $24,661,920.

About Quantinuum

(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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