Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Up – Still a Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $15.74, but opened at $16.40. Horizon Quantum Computing Pte. shares last traded at $16.2390, with a volume of 34,143 shares trading hands.

Analyst Upgrades and Downgrades

HQ has been the subject of a number of research reports. 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. Needham & Company LLC started coverage on shares of Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a research report on Monday, September 14th. Finally, Craig Hallum initiated coverage on Horizon Quantum Computing Pte. in a research note on Monday, August 17th. They issued a “buy” rating and a $21.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.50.

Horizon Quantum Computing Pte. Trading Down 0.2%

The stock has a market capitalization of $810.27 million, a price-to-earnings ratio of -34.12 and a beta of 0.33. The stock has a 50 day moving average of $15.52.

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