Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price Down 7.7% – What’s Next?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) was down 7.7% during mid-day trading on Monday. The company traded as low as $14.40 and last traded at $14.3850. Approximately 57,785 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 486,367 shares. The stock had previously closed at $15.59.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of 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 research note on Monday, September 14th. 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. Finally, Craig Hallum assumed 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 price target on the stock. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Horizon Quantum Computing Pte. presently has a consensus rating of “Hold” and a consensus target price of $20.50.

Horizon Quantum Computing Pte. Price Performance

The business has a 50-day simple moving average of $14.98. The stock has a market capitalization of $731.40 million, a PE ratio of -30.83 and a beta of 0.33.

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