Horizon Quantum Computing Pte. (NASDAQ:HQ) Reaches New 52-Week High – Still a Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s share price hit a new 52-week high on Tuesday . The company traded as high as $14.65 and last traded at $12.50, with a volume of 131617 shares traded. The stock had previously closed at $13.90.

Analyst Ratings Changes

A number of analysts have recently weighed in on HQ shares. Wall Street Zen downgraded shares of Horizon Quantum Computing Pte. to a “strong sell” rating in a report on Saturday. Weiss Ratings started coverage on shares of Horizon Quantum Computing Pte. in a report on Tuesday, April 21st. They set a “sell (e-)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Horizon Quantum Computing Pte. has an average rating of “Sell”.

Horizon Quantum Computing Pte. Stock Performance

The company has a market cap of $638.54 million, a P/E ratio of -6.32 and a beta of 0.46.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its quarterly earnings data 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.