Horizon Quantum Computing Pte. (NASDAQ:HQ) Trading Down 4.2% – Here’s What Happened

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s stock price was down 4.2% during mid-day trading on Wednesday . The stock traded as low as $10.56 and last traded at $10.7550. Approximately 15,870 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 156,640 shares. The stock had previously closed at $11.23.

Analyst Ratings Changes

Separately, Weiss Ratings began coverage on Horizon Quantum Computing Pte. in a research report on Tuesday, April 21st. They set a “sell (e-)” rating on the stock. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Horizon Quantum Computing Pte. Price Performance

The stock has a market capitalization of $723.36 million, a P/E ratio of -7.14 and a beta of 0.46.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last posted its earnings results 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.