Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Up – Still a Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $15.74, but opened at $16.40. Horizon Quantum Computing Pte. shares last traded at $16.2390, with a volume of 34,143 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC began coverage on Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 target price for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a research report on Monday, September 14th. Craig Hallum assumed coverage on Horizon Quantum Computing Pte. in a research report on Monday, August 17th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Wall Street Zen raised Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Two research analysts have 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 has a consensus rating of “Hold” and a consensus price target of $20.50.

Horizon Quantum Computing Pte. Stock Down 0.2%

The stock has a market cap of $810.27 million, a P/E ratio of -34.12 and a beta of 0.33. The firm has a fifty day moving average price of $15.52.

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