Horizon Quantum Computing Pte. (NASDAQ:HQ) Sets New 1-Year High – Here’s What Happened

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) shares hit a new 52-week high on Tuesday . The company traded as high as $18.05 and last traded at $17.82, with a volume of 6234895 shares traded. The stock had previously closed at $10.91.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Horizon Quantum Computing Pte. to a “strong sell” rating in a report on Saturday, May 23rd. Needham & Company LLC assumed coverage on shares of Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 target price on the stock. Finally, Weiss Ratings upgraded shares of Horizon Quantum Computing Pte. from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. One research analyst has 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 stock presently has an average rating of “Hold” and a consensus target price of $20.00.

Horizon Quantum Computing Pte. Price Performance

The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -12.05 and a beta of 0.65. The business has a fifty day simple moving average of $12.01.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last released 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.