Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Down – What’s Next?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $21.19, but opened at $20.33. Horizon Quantum Computing Pte. shares last traded at $22.2240, with a volume of 20,797 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Finally, Needham & Company LLC initiated coverage on 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. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Horizon Quantum Computing Pte. presently has a consensus rating of “Hold” and an average target price of $20.00.

Horizon Quantum Computing Pte. Stock Performance

The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -10.68 and a beta of 0.11. The stock has a 50 day moving average of $18.25.

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