Horizon Quantum Computing Pte. (NASDAQ:HQ) Trading Up 10.6% – What’s Next?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) shares traded up 10.6% during mid-day trading on Monday . The stock traded as high as $14.69 and last traded at $14.9690. 82,525 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 494,270 shares. The stock had previously closed at $13.54.

Analyst Upgrades and Downgrades

HQ has been the subject of several recent research reports. Wall Street Zen raised Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a report on Monday, September 14th. Craig Hallum began coverage on Horizon Quantum Computing Pte. in a research report on Monday, August 17th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Needham & Company LLC started 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 on the stock. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.50.

Horizon Quantum Computing Pte. Stock Performance

The business’s 50-day simple moving average is $15.52. The firm has a market capitalization of $811.87 million, a price-to-earnings ratio of -34.22 and a beta of 0.33.

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