Quantinuum (NASDAQ:QNT) Sets New 12-Month Low – Time to Sell?

Shares of Quantinuum Inc. (NASDAQ:QNT) reached a new 52-week low on Tuesday . The stock traded as low as $48.60 and last traded at $48.62, with a volume of 351277 shares traded. The stock had previously closed at $52.83.

Analysts Set New Price Targets

QNT has been the subject of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Quantinuum in a research note on Monday, June 29th. They set an “outperform” rating and a $94.00 price target for the company. Craig Hallum started coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $100.00 price objective for the company. Cantor Fitzgerald started coverage on Quantinuum in a research report on Monday, June 29th. They set an “overweight” rating and a $90.00 target price for the company. TD Cowen began coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating on the stock. Finally, Jefferies Financial Group started coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $90.00 target price on the stock. Twelve equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $98.75.

Quantinuum Trading Down 3.0%

Insider Transactions at Quantinuum

In related news, Director Kenneth D. Denman acquired 14,000 shares of the stock in a transaction on Friday, June 5th. The stock was purchased at an average price of $60.00 per share, for a total transaction of $840,000.00. Following the completion of the transaction, the director owned 19,833 shares of the company’s stock, valued at $1,189,980. This trade represents a 240.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michal Stepniak purchased 13,333 shares of the company’s stock in a transaction on Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, with a total value of $799,980.00. Following the transaction, the director directly 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 have purchased 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.