Horizon Quantum Computing Pte. (NASDAQ:HQ) Sees Large Volume Increase – Here’s Why

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) saw unusually-high trading volume on Monday . Approximately 850,193 shares traded hands during mid-day trading, an increase of 326% from the previous session’s volume of 199,373 shares.The stock last traded at $14.0010 and had previously closed at $10.91.

Analyst Ratings Changes

A number of analysts have issued reports on HQ shares. Needham & Company LLC started coverage on Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price target for the company. Wall Street Zen downgraded Horizon Quantum Computing Pte. to a “strong sell” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings raised Horizon Quantum Computing Pte. from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, June 1st. One 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 presently has an average rating of “Hold” and a consensus target price of $20.00.

Horizon Quantum Computing Pte. Stock Performance

The company has a 50-day moving average price of $11.46. The stock has a market cap of $807.90 million, a price-to-earnings ratio of -7.82 and a beta of 0.64.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last posted its earnings results 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.