Pasqal (NASDAQ:PSQL) Shares Gap Up – Here’s Why

Pasqal Holding SA (NASDAQ:PSQL)’s stock price gapped up prior to trading on Friday. The stock had previously closed at $5.88, but opened at $6.10. Pasqal shares last traded at $5.8150, with a volume of 183,686 shares changing hands.

Wall Street Analysts Forecast Growth

PSQL has been the subject of several analyst reports. Needham & Company LLC started coverage on shares of Pasqal in a research note on Wednesday, September 30th. They issued a “buy” rating and a $16.00 target price for the company. Roth Capital assumed coverage on shares of Pasqal in a research report on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price objective for the company. Canaccord Genuity Group restated a “buy” rating and set a $16.00 target price on shares of Pasqal in a research note on Monday, September 28th. Zacks Research raised Pasqal to a “hold” rating in a report on Thursday, September 24th. Finally, Williams Trading set a $16.00 target price on Pasqal in a research note on Wednesday, September 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $16.80.

Pasqal Stock Up 0.2%

The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.04 and a current ratio of 2.22.

Pasqal Company Profile

Pasqal is a quantum computing company headquartered in France that develops neutral-atom quantum processors and related software. Its systems use individually controlled atoms as qubits, with the aim of addressing complex computational problems that are difficult to solve with conventional computers.

The company provides access to its quantum computing technology through cloud-based platforms and works with customers and research organizations on applications including optimization, molecular and materials simulation, energy, logistics, finance, and machine learning.