Horizon Quantum Computing Pte. (NASDAQ:HQ) Trading Down 5.2% – Time to Sell?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s stock price traded down 5.2% during trading on Tuesday . The stock traded as low as $20.32 and last traded at $20.2650. Approximately 99,314 shares changed hands during trading, a decline of 82% from the average daily volume of 551,863 shares. The stock had previously closed at $21.38.

Analyst Ratings Changes

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

Horizon Quantum Computing Pte. Stock Performance

The firm has a market cap of $1.04 billion, a PE ratio of -10.23 and a beta of 0.11. The stock has a 50 day simple moving average of $17.57.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last posted its quarterly earnings data on Tuesday, May 5th. The quantum computing company reported ($0.09) EPS for the quarter.

About Horizon Quantum Computing Pte.

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.