Pasqal (NASDAQ:PSQL) Reaches New 12-Month Low – Time to Sell?

Pasqal Holding SA (NASDAQ:PSQL)’s share price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $4.93 and last traded at $5.0310, with a volume of 220,650 shares. The stock had previously closed at $5.33.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Roth Capital initiated coverage on Pasqal in a report on Wednesday, September 9th. They set a “buy” rating and a $20.00 price target for the company. Williams Trading set a $16.00 target price on Pasqal in a research report on Wednesday, September 30th. UBS Group set a $16.00 target price on Pasqal in a research note on Tuesday, September 22nd. Zacks Research raised Pasqal to a “hold” rating in a research note on Thursday, September 24th. Finally, Benchmark raised shares of Pasqal to a “strong-buy” rating in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Pasqal currently has an average rating of “Buy” and an average price target of $16.00.

Pasqal Stock Down 6.5%

The business’s fifty day moving average is $6.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.22 and a quick ratio of 2.04.

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.