Traders Buy High Volume of Horizon Quantum Computing Pte. Call Options (NASDAQ:HQ)

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) saw unusually large options trading activity on Thursday. Stock investors acquired 4,737 call options on the stock. This is an increase of approximately 1,121% compared to the average daily volume of 388 call options.

Analyst Ratings Changes

HQ has been the topic of a number of recent analyst reports. Wall Street Zen raised Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. Needham & Company LLC assumed coverage on Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.00.

Horizon Quantum Computing Pte. Trading Up 5.7%

Shares of NASDAQ:HQ traded up $1.35 during midday trading on Thursday, reaching $25.11. 261,800 shares of the company were exchanged, compared to its average volume of 557,652. The firm has a market capitalization of $1.30 billion, a PE ratio of -12.80 and a beta of 0.11. The company’s fifty day moving average is $16.80. Horizon Quantum Computing Pte. has a one year low of $8.29 and a one year high of $45.00.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last announced its quarterly earnings results on Tuesday, May 5th. The quantum computing company reported ($0.09) 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.