Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price Up 6.6% – Time to Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) rose 6.6% during trading on Wednesday. The stock traded as high as $14.72 and last traded at $15.1140. Approximately 5,472 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 480,384 shares. The stock had previously closed at $14.18.

Wall Street Analyst Weigh In

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

Horizon Quantum Computing Pte. Stock Performance

The stock’s 50-day moving average price is $14.98. The company has a market cap of $772.51 million, a PE ratio of -32.62 and a beta of 0.33.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last released its 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.