Horizon Quantum Computing Pte. (NASDAQ:HQ) Sees Strong Trading Volume – Should You Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) saw unusually-high trading volume on Monday . Approximately 850,193 shares were traded during trading, an increase of 326% from the previous session’s volume of 199,373 shares.The stock last traded at $14.0010 and had previously closed at $10.91.

Analyst Ratings Changes

HQ has been the topic of a number of research analyst reports. Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e-)” rating to a “sell (e)” rating in a research note on Monday, June 1st. Needham & Company LLC initiated coverage on Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price target on the stock. Finally, Wall Street Zen lowered shares of Horizon Quantum Computing Pte. to a “strong sell” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $20.00.

Horizon Quantum Computing Pte. Trading Up 26.3%

The stock’s 50-day moving average is $11.76. The stock has a market cap of $1.22 billion, a PE ratio of -12.05 and a beta of 0.65.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its earnings results on Tuesday, May 5th. The quantum computing company reported ($0.09) EPS 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.