Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Gap Down – Here’s Why

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) gapped down prior to trading on Thursday . The stock had previously closed at $17.50, but opened at $17.06. Horizon Quantum Computing Pte. shares last traded at $16.3560, with a volume of 30,485 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on HQ shares. Needham & Company LLC began coverage on shares of Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 price target 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 note on Wednesday, June 17th. Craig Hallum started coverage on Horizon Quantum Computing Pte. in a report on Monday, August 17th. They set a “buy” rating and a $21.00 price target on the stock. 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.50.

Horizon Quantum Computing Pte. Price Performance

The company has a market capitalization of $831.16 million, a P/E ratio of -35.10 and a beta of 0.33. The company has a fifty day simple moving average of $18.14.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last announced its earnings results on Tuesday, August 4th. The quantum computing company reported ($0.13) EPS for the quarter.

Horizon Quantum Computing Pte. Company Profile

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.