Short Interest in Quantinuum Inc. (NASDAQ:QNT) Declines By 56.8%

Quantinuum Inc. (NASDAQ:QNT) saw a significant decrease in short interest in July. As of July 15th, there was short interest totaling 2,015,456 shares, a decrease of 56.8% from the June 30th total of 4,669,276 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 2,407,631 shares, the short-interest ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Craig Hallum started coverage on shares of Quantinuum in a report on Monday, June 29th. They set a “buy” rating and a $100.00 price target for the company. JPMorgan Chase & Co. began coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued an “overweight” rating and a $97.00 target price for the company. Morgan Stanley started coverage on shares of Quantinuum in a research note on Monday, June 29th. They set an “equal weight” rating and a $78.00 target price for the company. Rosenblatt Securities started coverage on shares of Quantinuum in a report on Monday, June 29th. They set a “buy” rating and a $155.00 price target on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $90.00 price target on the stock. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Quantinuum has an average rating of “Moderate Buy” and an average target price of $98.75.

Insiders Place Their Bets

In other Quantinuum news, Director Paul R. Daugherty acquired 4,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, for a total transaction of $240,000.00. Following the transaction, the director owned 9,833 shares of the company’s stock, valued at $589,980. The trade was a 68.58% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin Scott Dehoff bought 15,000 shares of the stock in a transaction on Friday, June 5th. The shares were acquired at an average cost of $60.00 per share, for a total transaction of $900,000.00. Following the purchase, the insider owned 126,460 shares in the company, valued at approximately $7,587,600. This represents a 13.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 411,032 shares of company stock valued at $24,661,920 over the last quarter.

Quantinuum Price Performance

Shares of NASDAQ QNT traded down $2.44 during trading hours on Wednesday, hitting $47.34. The stock had a trading volume of 1,395,594 shares, compared to its average volume of 3,026,915. Quantinuum has a 52 week low of $47.06 and a 52 week high of $86.79.

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.