Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Climb 6.6% – Time to Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) traded up 6.6% during mid-day trading on Wednesday. The stock traded as high as $14.72 and last traded at $15.1140. 5,472 shares changed hands during trading, a decline of 99% from the average session volume of 480,384 shares. The stock had previously closed at $14.18.

Wall Street Analyst Weigh In

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

Horizon Quantum Computing Pte. Stock Up 5.6%

The company has a market cap of $772.51 million, a price-to-earnings ratio of -32.62 and a beta of 0.33. The company has a 50-day moving average of $14.98.

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.