Pasqal (NASDAQ:PSQL) Hits New 52-Week Low – Here’s Why

Shares of Pasqal Holding SA (NASDAQ:PSQL) hit a new 52-week low during trading on Friday. The stock traded as low as $6.83 and last traded at $6.99, with a volume of 616228 shares traded. The stock had previously closed at $7.34.

Wall Street Analysts Forecast Growth

PSQL has been the subject of several research analyst reports. Canaccord Genuity Group began coverage on Pasqal in a report on Tuesday. They issued a “buy” rating and a $16.00 price objective for the company. Roth Capital began coverage on Pasqal in a report 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 target price on Pasqal in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $17.33.

Pasqal Stock Performance

Pasqal Company Profile

Pasqal is a quantum computing company focused on developing neutral-atom quantum technology. The company designs quantum processors that use individually controlled atoms as qubits, along with the hardware, control systems and software needed to operate quantum computers.

Its offerings include access to quantum computing systems through cloud-based platforms, as well as software tools and services intended to help organizations develop and run quantum algorithms. Pasqal targets applications such as optimization, simulation, machine learning, drug discovery, energy and financial modeling.

Founded in France in 2019 by Georges-Olivier Reymond, Pasqal serves research institutions, corporations and public-sector organizations.