Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price Down 5.8% – What’s Next?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s share price fell 5.8% during trading on Monday . The stock traded as low as $20.89 and last traded at $21.01. 127,429 shares were traded during trading, a decline of 77% from the average daily volume of 546,339 shares. The stock had previously closed at $22.31.

Analyst Upgrades and Downgrades

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

Horizon Quantum Computing Pte. Stock Performance

The stock’s 50-day simple moving average is $18.73. The stock has a market cap of $867.27 million, a P/E ratio of -8.54 and a beta of 0.11.

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