Pasqal (NASDAQ:PSQL) Sets New 12-Month Low – Should You Sell?

Pasqal Holding SA (NASDAQ:PSQL)’s share price hit a new 52-week low during mid-day trading on Friday. The company traded as low as $5.90 and last traded at $6.0240, with a volume of 160002 shares trading hands. The stock had previously closed at $6.26.

Analyst Ratings Changes

Several equities research analysts have commented on the company. UBS Group set a $16.00 target price on Pasqal in a research note on Tuesday, September 22nd. Williams Trading set a $16.00 price objective on shares of Pasqal in a report on Wednesday. Zacks Research raised shares of Pasqal to a “hold” rating in a research report on Thursday, September 24th. Needham & Company LLC began coverage on shares of Pasqal in a report on Wednesday. They set a “buy” rating and a $16.00 target price for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 target price on shares of Pasqal in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Pasqal presently has an average rating of “Moderate Buy” and an average price target of $16.80.

Pasqal Price Performance

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.