Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price Down 8.2% – What’s Next?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s share price was down 8.2% during mid-day trading on Friday . The company traded as low as $13.42 and last traded at $13.17. Approximately 99,243 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 507,372 shares. The stock had previously closed at $14.35.

Analyst Upgrades and Downgrades

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

Horizon Quantum Computing Pte. Stock Performance

The company has a 50-day simple moving average of $18.98. The firm has a market capitalization of $674.67 million, a P/E ratio of -6.67 and a beta of 0.30.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its quarterly earnings data on Tuesday, August 4th. The quantum computing company reported ($0.13) 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.