Stock Traders Purchase Large Volume of Call Options on Horizon Quantum Computing Pte. (NASDAQ:HQ)

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) was the target of unusually large options trading on Thursday. Stock investors purchased 4,737 call options on the company. This is an increase of approximately 1,121% compared to the typical daily volume of 388 call options.

Analysts Set New Price Targets

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

Horizon Quantum Computing Pte. Stock Performance

Horizon Quantum Computing Pte. stock traded down $1.07 on Friday, hitting $22.99. 486,316 shares of the stock traded hands, compared to its average volume of 1,523,604. Horizon Quantum Computing Pte. has a 1 year low of $8.29 and a 1 year high of $45.00. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -11.73 and a beta of 0.11. The firm has a fifty day moving average of $17.34.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last announced 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.