Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price Up 16.6% – Here’s What Happened

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s stock price rose 16.6% during trading on Monday . The stock traded as high as $13.70 and last traded at $13.64. 48,444 shares were traded during mid-day trading, a decline of 91% from the average session volume of 533,638 shares. The stock had previously closed at $11.70.

Analysts Set New Price Targets

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

Horizon Quantum Computing Pte. Trading Up 7.4%

The business has a 50 day moving average price of $18.81. The company has a market cap of $648.23 million, a price-to-earnings ratio of -6.41 and a beta of 0.11.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last released its quarterly earnings results on Tuesday, May 5th. The quantum computing company reported ($0.09) earnings per share 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.