Quantinuum (NASDAQ:QNT) Sets New 12-Month Low – Here’s Why

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

Analysts Set New Price Targets

Several analysts recently commented on QNT shares. JPMorgan Chase & Co. assumed coverage on shares of Quantinuum in a report on Monday, June 29th. They set an “overweight” rating and a $97.00 price target for the company. Needham & Company LLC assumed coverage on shares of Quantinuum in a research note on Monday, June 29th. They issued a “buy” rating and a $100.00 price objective on the stock. UBS Group began coverage on shares of Quantinuum in a research report on Monday, June 29th. They issued a “buy” rating and a $93.00 target price for the company. Mizuho assumed coverage on shares of Quantinuum in a report on Monday, June 29th. They set an “outperform” rating and a $90.00 price target on the stock. Finally, Zacks Research raised shares of Quantinuum to a “hold” rating in a research note on Tuesday, June 30th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.75.

Quantinuum Trading Down 4.9%

Insider Buying and Selling

In other Quantinuum news, Director Manish H. Bhatia acquired 20,000 shares of Quantinuum stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $60.00 per share, with a total value of $1,200,000.00. Following the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth D. Denman acquired 14,000 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, with a total value of $840,000.00. Following the completion of the acquisition, the director directly owned 19,833 shares of the company’s stock, valued at $1,189,980. This represents a 240.01% increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders 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.