Pasqal (NASDAQ:PSQL) Stock Price Down 7.1% – Should You Sell?

Shares of Pasqal Holding SA (NASDAQ:PSQL) were down 7.1% on Tuesday. The stock traded as low as $6.22 and last traded at $6.2250. Approximately 168,000 shares were traded during trading, a decline of 81% from the average daily volume of 881,881 shares. The stock had previously closed at $6.70.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PSQL shares. UBS Group set a $16.00 target price on Pasqal in a research note on Tuesday, September 22nd. Roth Capital started coverage on Pasqal in a report on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price objective on the stock. Zacks Research raised Pasqal to a “hold” rating in a report on Thursday, September 24th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $16.00 price target on shares of Pasqal in a report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Pasqal has a consensus rating of “Moderate Buy” and a consensus price target of $17.33.

Pasqal Stock Performance

Pasqal Company Profile

Pasqal is a quantum computing company focused on developing neutral-atom quantum technology. The company designs quantum processors that use individually controlled atoms as qubits, along with the hardware, control systems and software needed to operate quantum computers.

Its offerings include access to quantum computing systems through cloud-based platforms, as well as software tools and services intended to help organizations develop and run quantum algorithms. Pasqal targets applications such as optimization, simulation, machine learning, drug discovery, energy and financial modeling.

Founded in France in 2019 by Georges-Olivier Reymond, Pasqal serves research institutions, corporations and public-sector organizations.