Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Up – Time to Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) gapped up prior to trading on Friday . The stock had previously closed at $12.56, but opened at $13.87. Horizon Quantum Computing Pte. shares last traded at $12.1710, with a volume of 31,301 shares trading hands.

Wall Street Analyst Weigh In

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

Horizon Quantum Computing Pte. Stock Performance

The firm’s 50 day simple moving average is $18.86. The firm has a market capitalization of $634.69 million, a price-to-earnings ratio of -6.22 and a beta of 0.11.

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