Pasqal (NASDAQ:PSQL) Shares Gap Up – Still a Buy?

Pasqal Holding SA (NASDAQ:PSQL) shares gapped up prior to trading on Friday. The stock had previously closed at $5.88, but opened at $6.10. Pasqal shares last traded at $5.8150, with a volume of 183,686 shares.

Analyst Ratings Changes

A number of analysts recently commented on PSQL shares. Needham & Company LLC assumed coverage on Pasqal in a research note on Wednesday, September 30th. They issued a “buy” rating and a $16.00 price target for the company. Benchmark upgraded shares of Pasqal to a “strong-buy” rating in a research note on Tuesday, October 6th. Williams Trading set a $16.00 target price on shares of Pasqal in a report on Wednesday, September 30th. Roth Capital began coverage on shares of Pasqal in a research note on Wednesday, September 9th. They set a “buy” rating and a $20.00 target price on the stock. Finally, UBS Group set a $16.00 price objective on Pasqal in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Pasqal currently has an average rating of “Buy” and a consensus price target of $16.80.

Pasqal Price Performance

The company has a quick ratio of 2.04, a current ratio of 2.22 and a debt-to-equity ratio of 0.13.

About Pasqal

Pasqal is a quantum computing company headquartered in France that develops neutral-atom quantum processors and related software. Its systems use individually controlled atoms as qubits, with the aim of addressing complex computational problems that are difficult to solve with conventional computers.

The company provides access to its quantum computing technology through cloud-based platforms and works with customers and research organizations on applications including optimization, molecular and materials simulation, energy, logistics, finance, and machine learning.