Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Gets Price Target Reduction from Needham & Company LLC

Horizon Quantum Computing Pte. (NASDAQ:HQ) had its price objective lowered by stock analysts at Needham & Company LLC from $20.00 to $19.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the quantum computing company’s stock. Needham & Company LLC‘s price objective would suggest a potential upside of 50.91% from the stock’s current price.

A number of other analysts have also recently commented on HQ. Craig Hallum initiated coverage on shares of Horizon Quantum Computing Pte. in a research note on Monday, August 17th. They set a “buy” rating and a $21.00 target price for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a research note on Monday, September 14th. Finally, Wall Street Zen upgraded Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $20.00.

Horizon Quantum Computing Pte. Price Performance

Shares of NASDAQ HQ opened at $12.59 on Wednesday. The firm has a fifty day moving average of $14.56 and a 200 day moving average of $15.39. Horizon Quantum Computing Pte. has a one year low of $8.29 and a one year high of $45.00.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last posted its quarterly earnings data on Tuesday, November 10th. The quantum computing company reported $0.55 earnings per share (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.