Pasqal (NASDAQ:PSQL) Sets New 52-Week Low – Here’s Why

Pasqal Holding SA (NASDAQ:PSQL)’s stock price reached a new 52-week low during trading on Thursday. The stock traded as low as $4.10 and last traded at $4.0710, with a volume of 426,498 shares. The stock had previously closed at $4.52.

Analysts Set New Price Targets

A number of brokerages have recently commented on PSQL. Roth Capital began coverage on shares of Pasqal in a research report on Wednesday, September 9th. They issued a “buy” rating and a $20.00 target price for the company. UBS Group set a $16.00 price target on shares of Pasqal in a research report on Tuesday, September 22nd. Zacks Research raised shares of Pasqal to a “hold” rating in a research note on Thursday, September 24th. Needham & Company LLC started coverage on shares of Pasqal in a research note on Wednesday, September 30th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Cantor Fitzgerald initiated coverage on shares of Pasqal in a report on Friday, October 30th. They issued an “overweight” rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $16.00.

Pasqal Trading Down 10.6%

The company has a current ratio of 2.22, a quick ratio of 2.04 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $6.36.

Pasqal (NASDAQ:PSQL) last issued its earnings results on Wednesday, September 9th. The company reported ($5.56) EPS for the quarter. The business had revenue of $7.13 million for the quarter. Analysts expect that Pasqal Holding SA will post -0.55 earnings per share for the current year.

Institutional Investors Weigh In On Pasqal

A hedge fund recently bought a new position in Pasqal stock. Private Advisor Group LLC purchased a new stake in Pasqal Holding SA (NASDAQ:PSQL) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 49,128 shares of the company’s stock, valued at approximately $312,000.

Pasqal Company Profile

Pasqal is a France-based quantum computing company that develops quantum processors, software and application solutions based on neutral-atom technology. Its systems use individually controlled atoms to perform quantum computations and are designed to address complex problems that can be difficult to solve with conventional computing. The company provides quantum computing hardware and access to its technology through cloud-based platforms, along with software tools that enable customers and researchers to develop, test and run quantum algorithms.