Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Down – Here’s What Happened

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) gapped down prior to trading on Friday . The stock had previously closed at $16.07, but opened at $15.45. Horizon Quantum Computing Pte. shares last traded at $15.4520, with a volume of 8,868 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Craig Hallum began coverage on Horizon Quantum Computing Pte. in a report on Monday, August 17th. They set a “buy” rating and a $21.00 target price for the company. Wall Street Zen raised Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Needham & Company LLC began coverage on shares of Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 price target on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Horizon Quantum Computing Pte. currently has a consensus rating of “Hold” and an average price target of $20.50.

Horizon Quantum Computing Pte. Stock Down 1.7%

The business has a 50 day simple moving average of $17.00. The stock has a market capitalization of $783.50 million, a P/E ratio of -32.99 and a beta of 0.33.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last posted its quarterly earnings data on Tuesday, August 4th. The quantum computing company reported ($0.13) EPS for the quarter.

About Horizon Quantum Computing Pte.

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.