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

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) was the recipient of some unusual options trading activity on Thursday. Traders bought 4,737 call options on the company. This represents an increase of approximately 1,121% compared to the typical daily volume of 388 call options.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Weiss Ratings upgraded 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 Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, Needham & Company LLC assumed coverage on Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They issued 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.00.

Horizon Quantum Computing Pte. Trading Up 5.7%

Shares of HQ stock traded up $1.35 during trading hours on Thursday, reaching $25.11. The company had a trading volume of 261,800 shares, compared to its average volume of 557,652. The business has a fifty day moving average of $16.80. Horizon Quantum Computing Pte. has a one year low of $8.29 and a one year high of $45.00. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -12.80 and a beta of 0.11.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its quarterly earnings data 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.