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

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $17.50, but opened at $17.06. Horizon Quantum Computing Pte. shares last traded at $16.3560, with a volume of 30,485 shares trading hands.

Analyst Upgrades and Downgrades

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

Horizon Quantum Computing Pte. Stock Performance

The firm has a market cap of $831.16 million, a price-to-earnings ratio of -35.10 and a beta of 0.33. The company’s fifty day moving average price is $18.14.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last released its quarterly earnings data on Tuesday, August 4th. The quantum computing company reported ($0.13) earnings per share (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.