Horizon Quantum Computing Pte. (NASDAQ:HQ) Trading Up 4.9% – What’s Next?

Shares of Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) were up 4.9% during mid-day trading on Tuesday . The stock traded as high as $10.98 and last traded at $10.8480. 228,322 shares were traded during trading, a decline of 51% from the average session volume of 470,726 shares. The stock had previously closed at $10.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HQ shares. Weiss Ratings upgraded shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Craig Hallum assumed coverage on Horizon Quantum Computing Pte. in a report on Monday, August 17th. They issued a “buy” rating and a $21.00 price target on the stock. Wall Street Zen upgraded shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Needham & Company LLC began coverage on shares of Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.50.

Horizon Quantum Computing Pte. Stock Performance

The company’s 50 day simple moving average is $16.56. The company has a market capitalization of $661.82 million, a P/E ratio of -27.99 and a beta of 0.33.

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