Horizon Quantum Computing Pte. (NASDAQ:HQ) Trading 4.9% Higher – What’s Next?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) shares were up 4.9% on Tuesday . The company traded as high as $10.98 and last traded at $10.8480. 228,322 shares traded hands during trading, a decline of 51% from the average daily volume of 470,726 shares. The stock had previously closed at $10.34.

Wall Street Analyst Weigh In

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

Horizon Quantum Computing Pte. Price Performance

The stock has a market cap of $699.42 million, a P/E ratio of -29.48 and a beta of 0.33. The stock’s fifty day moving average price is $16.15.

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.

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.