Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Down – What’s Next?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $21.19, but opened at $20.33. Horizon Quantum Computing Pte. shares last traded at $22.2240, with a volume of 20,797 shares traded.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HQ. Needham & Company LLC began coverage on shares of Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 target price on the stock. Wall Street Zen upgraded shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. Finally, Weiss Ratings raised shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.00.

Horizon Quantum Computing Pte. Price Performance

The company has a 50 day simple moving average of $17.80. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -12.05 and a beta of 0.11.

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