Shares of Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ – Get Free Report) traded down 9% during trading on Friday. The stock traded as low as $12.67 and last traded at $12.6850. 47,020 shares were traded during trading, a decline of 90% from the average daily volume of 451,280 shares. The stock had previously closed at $13.94.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on HQ. Craig Hallum began coverage on shares of Horizon Quantum Computing Pte. in a research report on Monday, August 17th. They set a “buy” rating and a $21.00 price objective for the company. Wall Street Zen raised shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a research report on Monday, September 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.50.
Get Our Latest Analysis on Horizon Quantum Computing Pte.
Horizon Quantum Computing Pte. Stock Down 7.1%
The stock’s 50-day moving average is $15.53. The company has a market capitalization of $668.32 million, a PE ratio of -27.51 and a beta of 0.34.
Horizon Quantum Computing Pte. (NASDAQ:HQ – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The quantum computing company reported ($0.13) earnings per share (EPS) for the quarter.
Horizon Quantum Computing Pte. Company Profile
Horizon Quantum Holdings Ltd. is a quantum software infrastructure company focused on tools and systems that help developers build and deploy quantum applications. The company emphasizes software, algorithms, and workflow infrastructure intended to support practical quantum and hybrid quantum-classical use cases.
Horizon Quantum became a public company through its business combination with dMY Squared Technology Group, Inc (DMYY), which was formed to take a private company public through a business combination.
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