Shares of Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ – Get Free Report) fell 19.4% on Thursday. The stock traded as low as $10.76 and last traded at $10.38. 94,420 shares were traded during mid-day trading, a decline of 78% from the average session volume of 419,828 shares. The stock had previously closed at $12.88.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Wall Street Zen raised Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a report on Monday, September 14th. Finally, Craig Hallum started coverage on shares of Horizon Quantum Computing Pte. in a research report on Monday, August 17th. They set a “buy” rating and a $21.00 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.50.
Check Out Our Latest Stock Report on HQ
Horizon Quantum Computing Pte. Stock Performance
The business has a fifty day moving average price of $14.87 and a 200 day moving average price of $15.48. The company has a market cap of $544.68 million, a price-to-earnings ratio of -22.96 and a beta of 0.37.
Horizon Quantum Computing Pte. (NASDAQ:HQ – Get Free Report) last issued its earnings results 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.
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