Horizon Quantum Computing Pte. (NASDAQ:HQ) Stock Price Up 10.8% – Still a Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s share price rose 10.8% during mid-day trading on Tuesday . The company traded as high as $25.93 and last traded at $26.0440. 338,286 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 554,254 shares. The stock had previously closed at $23.50.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Weiss Ratings raised shares of 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 began coverage on shares of Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 target price on the stock. Finally, Wall Street Zen raised shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Horizon Quantum Computing Pte. Trading Up 12.5%

The company has a market cap of $1.36 billion, a P/E ratio of -13.60 and a beta of 0.64. The firm has a 50-day simple moving average of $14.99.

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