Pasqal (NASDAQ:PSQL) Shares Down 9.2% – What’s Next?

Pasqal Holding SA (NASDAQ:PSQL)’s share price traded down 9.2% during mid-day trading on Friday. The company traded as low as $3.63 and last traded at $3.6680. Approximately 172,638 shares changed hands during trading, a decline of 78% from the average session volume of 777,448 shares. The stock had previously closed at $4.04.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSQL. Benchmark upgraded shares of Pasqal to a “strong-buy” rating in a research note on Tuesday, October 6th. Zacks Research raised Pasqal to a “hold” rating in a report on Thursday, September 24th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price objective on shares of Pasqal in a research report on Monday, September 28th. Roth Capital assumed coverage on Pasqal in a report on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Williams Trading set a $16.00 target price on Pasqal in a research report on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.00.

Pasqal Trading Down 7.7%

The company has a quick ratio of 2.04, a current ratio of 2.22 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $6.31.

Pasqal (NASDAQ:PSQL) last issued its quarterly earnings results on Wednesday, September 9th. The company reported ($5.56) earnings per share (EPS) for the quarter. The business had revenue of $7.13 million during the quarter. On average, analysts expect that Pasqal Holding SA will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Pasqal stock. Private Advisor Group LLC purchased a new stake in Pasqal Holding SA (NASDAQ:PSQL) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 49,128 shares of the company’s stock, valued at approximately $312,000.

About Pasqal

Pasqal is a France-based quantum computing company that develops quantum processors, software and application solutions based on neutral-atom technology. Its systems use individually controlled atoms to perform quantum computations and are designed to address complex problems that can be difficult to solve with conventional computing. The company provides quantum computing hardware and access to its technology through cloud-based platforms, along with software tools that enable customers and researchers to develop, test and run quantum algorithms.