Pasqal (NASDAQ:PSQL) Sets New 1-Year Low – Time to Sell?

Pasqal Holding SA (NASDAQ:PSQL) reached a new 52-week low during mid-day trading on Friday. The stock traded as low as $5.90 and last traded at $6.0240, with a volume of 160002 shares traded. The stock had previously closed at $6.26.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PSQL. Roth Capital assumed coverage on shares of Pasqal in a research report on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 target price on shares of Pasqal in a report on Monday. Williams Trading set a $16.00 price target on Pasqal in a report on Wednesday. Needham & Company LLC began coverage on Pasqal in a research report on Wednesday. They set a “buy” rating and a $16.00 price target on the stock. Finally, UBS Group set a $16.00 price objective on Pasqal in a research note on Tuesday, September 22nd. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Pasqal has a consensus rating of “Moderate Buy” and a consensus price target of $16.80.

Pasqal Price Performance

Pasqal Company Profile

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.