Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Down – Time to Sell?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) shares gapped down prior to trading on Thursday . The stock had previously closed at $17.50, but opened at $17.06. Horizon Quantum Computing Pte. shares last traded at $16.3560, with a volume of 30,485 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have commented on HQ shares. Needham & Company LLC began coverage on shares of Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 target price for the company. Weiss Ratings upgraded shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Wall Street Zen raised Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Finally, Craig Hallum began coverage on Horizon Quantum Computing Pte. in a research note on Monday, August 17th. They set a “buy” rating and a $21.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.50.

Horizon Quantum Computing Pte. Price Performance

The business has a 50-day moving average of $17.78. The firm has a market cap of $802.58 million, a P/E ratio of -33.83 and a beta of 0.33.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last announced its earnings results on Tuesday, August 4th. The quantum computing company reported ($0.13) earnings per share (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.