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

Quantinuum Inc. (NASDAQ:QNT)’s share price fell 7.7% during trading on Wednesday . The stock traded as low as $53.70 and last traded at $54.05. Approximately 959,186 shares changed hands during trading, a decline of 71% from the average session volume of 3,258,566 shares. The stock had previously closed at $58.58.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Zacks Research upgraded Quantinuum to a “hold” rating in a research report on Tuesday, June 30th. Cantor Fitzgerald initiated coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued an “overweight” rating and a $90.00 target price on the stock. Mizuho assumed coverage on shares of Quantinuum in a research report on Monday, June 29th. They set an “outperform” rating and a $90.00 target price for the company. Craig Hallum initiated coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 price target for the company. Finally, Jefferies Financial Group began coverage on shares of Quantinuum in a research report on Monday, June 29th. They set a “buy” rating and a $90.00 price objective 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.75.

Quantinuum Trading Down 6.1%

Insider Activity

In other Quantinuum news, Director Manish H. Bhatia bought 20,000 shares of Quantinuum stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average price of $60.00 per share, with a total value of $1,200,000.00. Following the acquisition, the director owned 25,833 shares in the company, valued at approximately $1,549,980. This trade represents a 342.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hal Barron bought 250,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $60.00 per share, for a total transaction of $15,000,000.00. Following the transaction, the director owned 255,833 shares in the company, valued at $15,349,980. This trade represents a 4,285.96% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders bought 411,032 shares of company stock valued at $24,661,920.

About Quantinuum

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.