Horizon Quantum Computing Pte. (NASDAQ:HQ) Trading Up 10.6% – Here’s Why

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) was up 10.6% during trading on Monday . The company traded as high as $14.69 and last traded at $14.9690. 82,525 shares traded hands during trading, a decline of 83% from the average daily volume of 494,270 shares. The stock had previously closed at $13.54.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HQ shares. Needham & Company LLC assumed coverage on Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price objective on the stock. Craig Hallum began coverage on shares of Horizon Quantum Computing Pte. in a research report on Monday, August 17th. They set a “buy” rating and a $21.00 price target for the company. Wall Street Zen upgraded Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a research note on Monday, September 14th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Horizon Quantum Computing Pte. has an average rating of “Hold” and an average price target of $20.50.

Horizon Quantum Computing Pte. Trading Up 11.9%

The company’s 50-day moving average price is $15.75. The firm has a market capitalization of $781.75 million, a PE ratio of -32.92 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.