Pasqal (NASDAQ:PSQL) Shares Gap Up – Here’s What Happened

Pasqal Holding SA (NASDAQ:PSQL)’s share price gapped up prior to trading on Thursday. The stock had previously closed at $6.36, but opened at $6.69. Pasqal shares last traded at $6.3160, with a volume of 258,810 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Williams Trading set a $16.00 price target on Pasqal in a report on Wednesday. UBS Group set a $16.00 target price on shares of Pasqal in a research note on Tuesday, September 22nd. Needham & Company LLC assumed coverage on shares of Pasqal in a research note on Wednesday. They set a “buy” rating and a $16.00 price target on the stock. Zacks Research raised shares of Pasqal to a “hold” rating in a report on Thursday, September 24th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $16.00 price objective on shares of Pasqal in a research report on Monday. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Pasqal currently has an average rating of “Moderate Buy” and an average price target of $16.80.

Pasqal Stock Down 1.9%

About Pasqal

Pasqal is a quantum computing company focused on developing neutral-atom quantum technology. The company designs quantum processors that use individually controlled atoms as qubits, along with the hardware, control systems and software needed to operate quantum computers.

Its offerings include access to quantum computing systems through cloud-based platforms, as well as software tools and services intended to help organizations develop and run quantum algorithms. Pasqal targets applications such as optimization, simulation, machine learning, drug discovery, energy and financial modeling.

Founded in France in 2019 by Georges-Olivier Reymond, Pasqal serves research institutions, corporations and public-sector organizations.