Quantinuum Inc. (NASDAQ:QNT) Sees Significant Growth in Short Interest

Quantinuum Inc. (NASDAQ:QNT) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 2,925,284 shares, an increase of ? from the May 31st total of 0 shares. Based on an average daily volume of 5,589,953 shares, the short-interest ratio is presently 0.5 days. Currently, 1.1% of the shares of the company are sold short.

Insider Activity at Quantinuum

In other news, Director Kenneth D. Denman purchased 14,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, with a total value of $840,000.00. Following the completion of the acquisition, the director owned 19,833 shares of the company’s stock, valued at approximately $1,189,980. This represents a 240.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul R. Daugherty bought 4,000 shares of the stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $60.00 per share, for a total transaction of $240,000.00. Following the completion of the purchase, the director owned 9,833 shares in the company, valued at approximately $589,980. This represents a 68.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 411,032 shares of company stock worth $24,661,920 in the last three months.

Quantinuum Stock Down 3.5%

QNT traded down $2.90 during trading on Wednesday, hitting $78.84. 1,662,756 shares of the stock were exchanged, compared to its average volume of 4,182,725. Quantinuum has a 1-year low of $50.10 and a 1-year high of $82.30.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on QNT. Craig Hallum assumed coverage on shares of Quantinuum in a research report on Monday. They issued a “buy” rating and a $100.00 target price on the stock. Evercore began coverage on shares of Quantinuum in a report on Monday. They issued an “outperform” rating and a $98.00 price objective for the company. Sanford C. Bernstein started coverage on Quantinuum in a research report on Monday. They issued an “outperform” rating and a $94.00 target price on the stock. Cantor Fitzgerald initiated coverage on shares of Quantinuum in a research report on Monday. They set an “overweight” rating and a $90.00 price objective for the company. Finally, Jefferies Financial Group began coverage on Quantinuum in a research note on Monday. They issued a “buy” rating and a $90.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $98.75.

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.