Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Down 9% – Should You Sell?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s share price traded down 9% during mid-day trading on Friday. The stock traded as low as $12.67 and last traded at $12.6850. 47,020 shares traded hands during trading, a decline of 90% from the average daily volume of 451,280 shares. The stock had previously closed at $13.94.

Analyst Upgrades and Downgrades

HQ has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. Craig Hallum started coverage on shares of Horizon Quantum Computing Pte. in a research report on Monday, August 17th. They set a “buy” rating and a $21.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Horizon Quantum Computing Pte. in a research report on Monday, September 14th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $20.50.

Horizon Quantum Computing Pte. Price Performance

The stock has a market capitalization of $668.32 million, a PE ratio of -27.51 and a beta of 0.34. The business has a fifty day moving average price of $15.53.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its earnings results on Tuesday, August 4th. The quantum computing company reported ($0.13) 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.