Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Up – Here’s Why

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) gapped up before the market opened on Thursday . The stock had previously closed at $10.84, but opened at $11.54. Horizon Quantum Computing Pte. shares last traded at $11.8840, with a volume of 81,265 shares traded.

Analysts Set New Price Targets

Several research firms recently issued reports on HQ. Weiss Ratings began coverage on shares of Horizon Quantum Computing Pte. in a research report on Tuesday, April 21st. They set a “sell (e-)” rating on the stock. Wall Street Zen lowered shares of Horizon Quantum Computing Pte. to a “strong sell” rating in a research report on Saturday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Horizon Quantum Computing Pte. presently has an average rating of “Sell”.

Horizon Quantum Computing Pte. Stock Performance

The stock has a market capitalization of $716.93 million, a PE ratio of -7.09 and a beta of 0.46.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its quarterly earnings data on Tuesday, May 5th. The quantum computing company reported ($0.09) EPS for the quarter.

Horizon Quantum Computing Pte. Company Profile

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.