Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Jumps 7.1% – Still a Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s stock price was up 7.1% on Tuesday. The company traded as high as $17.24 and last traded at $17.1640. 132,906 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 471,015 shares. The stock had previously closed at $16.03.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on HQ shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a research report on Monday, September 14th. Craig Hallum assumed 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 target for the company. Finally, Wall Street Zen upgraded Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Horizon Quantum Computing Pte. currently has an average rating of “Hold” and a consensus target price of $20.50.

Horizon Quantum Computing Pte. Price Performance

The stock has a market cap of $885.37 million, a P/E ratio of -37.28 and a beta of 0.34. The business’s fifty day simple moving average is $15.16.

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