Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price Up 10.9% – Time to Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) shot up 10.9% on Monday . The company traded as high as $12.95 and last traded at $13.3910. 41,640 shares changed hands during trading, a decline of 92% from the average session volume of 519,850 shares. The stock had previously closed at $12.08.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. 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. 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 price objective on the stock. Finally, Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. One investment 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 an average rating of “Hold” and an average price target of $20.00.

Horizon Quantum Computing Pte. Trading Up 14.3%

The company’s 50 day moving average is $18.83. The stock has a market capitalization of $712.32 million, a P/E ratio of -7.04 and a beta of 0.31.

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