Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price Up 10.8% – Here’s Why

Shares of Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) traded up 10.8% during trading on Tuesday . The company traded as high as $25.93 and last traded at $26.0440. Approximately 338,286 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 554,254 shares. The stock had previously closed at $23.50.

Analyst Ratings Changes

A number of research analysts have issued reports on HQ shares. 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. 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, June 20th. Finally, Needham & Company LLC assumed coverage on shares of Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.00.

Horizon Quantum Computing Pte. Stock Down 10.2%

The stock has a market capitalization of $1.25 billion, a P/E ratio of -12.39 and a beta of 0.65. The business has a 50 day simple moving average of $15.59.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last announced its earnings results on Tuesday, May 5th. The quantum computing company reported ($0.09) 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.