Quantinuum (NASDAQ:QNT) Shares Gap Down – Here’s What Happened

Quantinuum Inc. (NASDAQ:QNT)’s share price gapped down before the market opened on Friday . The stock had previously closed at $71.68, but opened at $67.25. Quantinuum shares last traded at $70.00, with a volume of 396,635 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Quantinuum to a “hold” rating in a research report on Saturday, June 20th.

Quantinuum Trading Up 6.0%

Insider Activity

In other Quantinuum news, Director Paul R. Daugherty purchased 4,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were acquired at an average price of $60.00 per share, with a total value of $240,000.00. Following the purchase, the director directly owned 9,833 shares in the company, valued at approximately $589,980. This trade represents a 68.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Manish H. Bhatia bought 20,000 shares of the stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $60.00 per share, with a total value of $1,200,000.00. Following the purchase, the director owned 25,833 shares of the company’s stock, valued at $1,549,980. This trade represents a 342.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired 411,032 shares of company stock valued at $24,661,920 in the last quarter.

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.