Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price Down 11.2% – Time to Sell?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) traded down 11.2% on Monday . The stock traded as low as $17.50 and last traded at $17.7050. 71,116 shares traded hands during trading, a decline of 85% from the average daily volume of 489,731 shares. The stock had previously closed at $19.93.

Analyst Ratings Changes

A number of analysts recently issued reports on HQ shares. Needham & Company LLC assumed coverage on Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 price target for the company. 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. Craig Hallum assumed coverage on shares of Horizon Quantum Computing Pte. in a report on Monday, August 17th. They set a “buy” rating and a $21.00 price target on the stock. Finally, Weiss Ratings raised shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $20.50.

Horizon Quantum Computing Pte. Stock Down 0.3%

The company’s 50 day simple moving average is $19.97. The company has a market capitalization of $999.58 million, a PE ratio of -42.13 and a beta of 0.31.

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