Horizon Quantum Computing Pte. (NASDAQ:HQ) Trading Up 10.6% – What’s Next?

Shares of Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) rose 10.6% during mid-day trading on Monday . The company traded as high as $14.69 and last traded at $14.9690. 82,525 shares changed hands during trading, a decline of 83% from the average daily volume of 494,270 shares. The stock had previously closed at $13.54.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HQ shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a report on Monday, September 14th. Wall Street Zen raised shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Craig Hallum initiated coverage on shares of Horizon Quantum Computing Pte. in a research note on Monday, August 17th. They set a “buy” rating and a $21.00 price objective for the company. Finally, Needham & Company LLC started coverage on shares of Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.50.

Horizon Quantum Computing Pte. Stock Up 11.9%

The firm has a market capitalization of $781.75 million, a P/E ratio of -32.92 and a beta of 0.33. The stock’s fifty day moving average is $15.75.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last posted its quarterly earnings data 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.