Horizon Quantum Computing Pte. (NASDAQ:HQ) Trading 16.6% Higher – Time to Buy?

Shares of Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) rose 16.6% during trading on Monday . The company traded as high as $13.70 and last traded at $13.64. Approximately 48,444 shares changed hands during trading, a decline of 91% from the average daily volume of 533,638 shares. The stock had previously closed at $11.70.

Analyst Ratings Changes

HQ has been the subject of several recent research reports. 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. Needham & Company LLC began coverage on shares of Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 20th. One equities research 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, Horizon Quantum Computing Pte. has a consensus rating of “Hold” and an average price target of $20.00.

Horizon Quantum Computing Pte. Trading Up 7.4%

The company has a market cap of $648.23 million, a PE ratio of -6.41 and a beta of 0.11. The company’s 50-day moving average price is $18.81.

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