Quantinuum Inc. (NASDAQ:QNT) Short Interest Update

Quantinuum Inc. (NASDAQ:QNT) saw a significant drop in short interest in 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. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 2,407,631 shares, the days-to-cover ratio is presently 0.8 days.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued an “outperform” rating and a $98.00 target price for the company. Sanford C. Bernstein initiated coverage on Quantinuum in a research note on Monday, June 29th. They issued an “outperform” rating and a $94.00 price target on the stock. Bank of America initiated coverage on Quantinuum in a report on Monday, June 29th. They issued a “buy” rating and a $100.00 price target on the stock. Wall Street Zen cut Quantinuum from a “hold” rating to a “sell” rating in a research report on Saturday, July 4th. Finally, Morgan Stanley assumed coverage on Quantinuum in a report on Monday, June 29th. They set an “equal weight” rating and a $78.00 price objective for the company. Twelve investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Quantinuum has an average rating of “Moderate Buy” and a consensus price target of $98.75.

Quantinuum Stock Performance

Shares of NASDAQ:QNT opened at $52.29 on Monday. Quantinuum has a one year low of $50.10 and a one year high of $86.79.

Insider Buying and Selling

In other Quantinuum news, Director Kenneth D. Denman acquired 14,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, with a total value of $840,000.00. Following the purchase, the director owned 19,833 shares of the company’s stock, valued at $1,189,980. This represents a 240.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hal Barron bought 250,000 shares of Quantinuum stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $60.00 per share, for a total transaction of $15,000,000.00. Following the completion of the acquisition, the director owned 255,833 shares of the company’s stock, valued at approximately $15,349,980. This represents a 4,285.96% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 411,032 shares of company stock worth $24,661,920 over the last ninety days.

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.