Pasqal (NASDAQ:PSQL) Stock Falls 7.1% – Here’s What Happened

Pasqal Holding SA (NASDAQ:PSQL) traded down 7.1% during mid-day trading on Tuesday. The company traded as low as $6.22 and last traded at $6.2250. Approximately 168,000 shares changed hands during trading, a decline of 81% from the average session volume of 881,881 shares. The stock had previously closed at $6.70.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Zacks Research upgraded Pasqal to a “hold” rating in a research report on Thursday, September 24th. Canaccord Genuity Group reiterated a “buy” rating and set a $16.00 price target on shares of Pasqal in a research report on Monday. Roth Capital started coverage on Pasqal in a report on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, UBS Group set a $16.00 price target on shares of Pasqal in a research note on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Pasqal presently has an average rating of “Moderate Buy” and an average price target of $17.33.

Pasqal Stock Down 7.1%

Pasqal Company Profile

Pasqal is a quantum computing company focused on developing neutral-atom quantum technology. The company designs quantum processors that use individually controlled atoms as qubits, along with the hardware, control systems and software needed to operate quantum computers.

Its offerings include access to quantum computing systems through cloud-based platforms, as well as software tools and services intended to help organizations develop and run quantum algorithms. Pasqal targets applications such as optimization, simulation, machine learning, drug discovery, energy and financial modeling.

Founded in France in 2019 by Georges-Olivier Reymond, Pasqal serves research institutions, corporations and public-sector organizations.