Quantinuum Inc. (NASDAQ:QNT) Short Interest Update

Quantinuum Inc. (NASDAQ:QNT) was the recipient of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 2,015,456 shares, a drop of 56.8% from the June 30th total of 4,669,276 shares. Based on an average trading volume of 2,407,631 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.8% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on QNT shares. Rosenblatt Securities began coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $155.00 target price on the stock. Wall Street Zen downgraded Quantinuum from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. TD Cowen started coverage on Quantinuum in a research note on Monday, June 29th. They set a “buy” rating on the stock. UBS Group started coverage on Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $93.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on Quantinuum in a report on Monday, June 29th. They set a “buy” rating and a $90.00 target price 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 data from MarketBeat, Quantinuum currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.75.

Quantinuum Price Performance

QNT traded down $1.80 on Tuesday, reaching $51.03. The company’s stock had a trading volume of 1,238,752 shares, compared to its average volume of 3,058,674. Quantinuum has a 1 year low of $47.13 and a 1 year high of $86.79.

Insider Activity

In other news, insider Kevin Scott Dehoff bought 15,000 shares of the firm’s 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 of the company’s stock, valued at $7,587,600. This trade represents a 13.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul R. Daugherty bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of $60.00 per share, with a total value of $240,000.00. Following the transaction, the director owned 9,833 shares in the company, valued at approximately $589,980. This represents a 68.58% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 411,032 shares of company stock valued at $24,661,920 in the last 90 days.

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.