Horizon Quantum Computing Pte. (NASDAQ:HQ) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Horizon Quantum Computing Pte. (NASDAQ:HQ) from a sell rating to a strong sell rating in a research note issued to investors on Saturday.

Several other brokerages have also issued reports on HQ. Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Needham & Company LLC assumed coverage on shares of Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price target for the company. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Horizon Quantum Computing Pte. Stock Down 11.1%

Shares of HQ opened at $12.56 on Friday. The company has a market capitalization of $647.84 million, a P/E ratio of -6.41 and a beta of 0.31. The business’s 50-day moving average is $18.99. Horizon Quantum Computing Pte. has a 1 year low of $8.29 and a 1 year high of $45.00.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its quarterly earnings results on Tuesday, August 4th. The quantum computing company reported ($0.13) earnings per share (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.