Quantinuum (NASDAQ:QNT) Stock Price Down 7.7% – Here’s What Happened

Shares of Quantinuum Inc. (NASDAQ:QNT) were down 7.7% on Thursday . The stock traded as low as $65.00 and last traded at $65.66. 545,874 shares changed hands during trading, a decline of 87% from the average session volume of 4,163,133 shares. The stock had previously closed at $71.10.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Quantinuum to a “hold” rating in a research note on Saturday, June 20th.

Quantinuum Price Performance

Insider Buying and Selling at Quantinuum

In related news, Director Manish H. Bhatia acquired 20,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were purchased 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 of the company’s stock, valued at $1,549,980. This represents a 342.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michal Stepniak bought 13,333 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, for a total transaction of $799,980.00. Following the completion of the transaction, the director owned 13,333 shares in the company, valued at $799,980. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 411,032 shares of company stock valued at $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.