Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) Short Interest Up 120.3% in June

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 815,505 shares, a growth of 120.3% from the June 15th total of 370,155 shares. Currently, 2.5% of the shares of the stock are short sold. Based on an average trading volume of 2,044,449 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

HQ has been the topic of several analyst reports. Needham & Company LLC began coverage on Horizon Quantum Computing Pte. in a report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 target price on the stock. Weiss Ratings upgraded shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a report on Saturday, June 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Horizon Quantum Computing Pte. has a consensus rating of “Hold” and an average price target of $20.00.

Horizon Quantum Computing Pte. Price Performance

Shares of HQ traded up $3.15 during midday trading on Wednesday, hitting $24.34. The company’s stock had a trading volume of 166,728 shares, compared to its average volume of 550,536. Horizon Quantum Computing Pte. has a one year low of $8.29 and a one year high of $45.00. The company has a market cap of $1.26 billion, a PE ratio of -12.42 and a beta of 0.11. The company’s fifty day moving average price is $17.80.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last released its quarterly earnings data on Tuesday, May 5th. The quantum computing company reported ($0.09) earnings per share for the quarter.

About Horizon Quantum Computing Pte.

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.