Quantinuum (NASDAQ:QNT) Sets New 12-Month High – Still a Buy?

Quantinuum Inc. (NASDAQ:QNT) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $81.48 and last traded at $77.46, with a volume of 5558115 shares traded. The stock had previously closed at $68.27.

Analyst Upgrades and Downgrades

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

Quantinuum Stock Up 13.5%

Insider Buying and Selling at Quantinuum

In other Quantinuum news, Director Manish H. Bhatia bought 20,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $60.00 per share, with a total value of $1,200,000.00. Following the purchase, the director directly owned 25,833 shares of the company’s stock, valued at approximately $1,549,980. The trade was a 342.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph Jimenez purchased 66,665 shares of Quantinuum stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, with a total value of $3,999,900.00. Following the transaction, the director directly owned 72,498 shares in the company, valued at $4,349,880. This trade represents a 1,142.89% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 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.