Horizon Quantum Computing Pte. (NASDAQ:HQ) Trading 4.9% Higher – What’s Next?

Shares of Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) traded up 4.9% during trading on Tuesday . The stock traded as high as $10.98 and last traded at $10.8480. Approximately 228,322 shares traded hands during trading, a decline of 51% from the average session volume of 470,726 shares. The stock had previously closed at $10.34.

Wall Street Analysts Forecast Growth

HQ has been the topic of several recent analyst reports. Craig Hallum started coverage on shares of Horizon Quantum Computing Pte. in a report on Monday, August 17th. They issued a “buy” rating and a $21.00 target price on the stock. Needham & Company LLC began coverage on Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 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 upgraded shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.50.

Horizon Quantum Computing Pte. Stock Performance

The firm has a market cap of $661.82 million, a PE ratio of -27.99 and a beta of 0.33. The stock has a 50 day simple moving average of $16.56.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its earnings results on Tuesday, August 4th. The quantum computing company reported ($0.13) earnings per share 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.