Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Up 5.4% – Should You Buy?

Shares of Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) traded up 5.4% on Friday . The company traded as high as $23.00 and last traded at $22.0550. 58,684 shares were traded during mid-day trading, a decline of 89% from the average session volume of 544,835 shares. The stock had previously closed at $20.93.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Weiss Ratings raised 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 assumed coverage on Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 price target for the company. Finally, Wall Street Zen upgraded Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. One investment analyst has 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 stock presently has an average rating of “Hold” and an average price target of $20.00.

Horizon Quantum Computing Pte. Stock Up 6.6%

The business has a 50-day moving average price of $18.49. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -11.38 and a beta of 0.11.

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.