Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Down – Time to Sell?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $21.19, but opened at $20.33. Horizon Quantum Computing Pte. shares last traded at $22.2240, with a volume of 20,797 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently commented on HQ. Wall Street Zen upgraded Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Needham & Company LLC began coverage on Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Weiss Ratings raised Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.00.

Horizon Quantum Computing Pte. Trading Up 12.3%

The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -12.05 and a beta of 0.11. The firm’s fifty day moving average is $17.80.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last posted its quarterly earnings data on Tuesday, May 5th. The quantum computing company reported ($0.09) earnings per share 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.