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

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s share price gapped up before the market opened on Friday . The stock had previously closed at $12.56, but opened at $13.87. Horizon Quantum Computing Pte. shares last traded at $12.1710, with a volume of 31,301 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HQ. Needham & Company LLC started coverage on Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price target on the stock. Weiss Ratings upgraded shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.00.

Horizon Quantum Computing Pte. Stock Down 2.0%

The company’s 50-day moving average price is $18.86. The firm has a market capitalization of $634.69 million, a P/E ratio of -6.22 and a beta of 0.11.

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.

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.