Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Up 26.6% – What’s Next?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) shot up 26.6% on Wednesday . The company traded as high as $23.02 and last traded at $23.6820. 356,796 shares were traded during mid-day trading, an increase of 11% from the average session volume of 321,650 shares. The stock had previously closed at $18.70.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HQ shares. Wall Street Zen cut shares of Horizon Quantum Computing Pte. to a “strong sell” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded shares of Horizon Quantum Computing Pte. from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday, June 1st. Finally, Needham & Company LLC started coverage on shares of Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Horizon Quantum Computing Pte. has a consensus rating of “Hold” and an average price target of $20.00.

Horizon Quantum Computing Pte. Trading Up 31.6%

The firm has a 50-day moving average of $11.76. The firm has a market cap of $1.27 billion, a P/E ratio of -12.54 and a beta of 0.65.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its quarterly earnings results on Tuesday, May 5th. The quantum computing company reported ($0.09) EPS for the quarter.

About Horizon Quantum Computing Pte.

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.