Pasqal (NASDAQ:PSQL) Shares Gap Up – Here’s What Happened

Pasqal Holding SA (NASDAQ:PSQL)’s share price gapped up prior to trading on Thursday. The stock had previously closed at $6.36, but opened at $6.69. Pasqal shares last traded at $6.3160, with a volume of 258,810 shares.

Analysts Set New Price Targets

PSQL has been the subject of several recent analyst reports. Needham & Company LLC started coverage on Pasqal in a research note on Wednesday. They set a “buy” rating and a $16.00 target price for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price target on shares of Pasqal in a research report on Monday. Roth Capital started coverage on Pasqal in a report on Wednesday, September 9th. They set a “buy” rating and a $20.00 price target for the company. Williams Trading set a $16.00 price objective on Pasqal in a research report on Wednesday. Finally, UBS Group set a $16.00 price objective on shares of Pasqal in a research note on Tuesday, September 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.80.

Pasqal Stock Down 1.9%

About Pasqal

Pasqal is a quantum computing company focused on developing neutral-atom quantum technology. The company designs quantum processors that use individually controlled atoms as qubits, along with the hardware, control systems and software needed to operate quantum computers.

Its offerings include access to quantum computing systems through cloud-based platforms, as well as software tools and services intended to help organizations develop and run quantum algorithms. Pasqal targets applications such as optimization, simulation, machine learning, drug discovery, energy and financial modeling.

Founded in France in 2019 by Georges-Olivier Reymond, Pasqal serves research institutions, corporations and public-sector organizations.