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

Pasqal Holding SA (NASDAQ:PSQL) shares gapped up before the market opened on Monday. The stock had previously closed at $5.23, but opened at $5.65. Pasqal shares last traded at $5.5840, with a volume of 107,612 shares.

Analyst Ratings Changes

PSQL has been the topic of several recent research reports. Zacks Research raised shares of Pasqal to a “hold” rating in a research note on Thursday, September 24th. Williams Trading set a $16.00 price target on shares of Pasqal in a research note on Wednesday, September 30th. UBS Group set a $16.00 target price on Pasqal in a report on Tuesday, September 22nd. Needham & Company LLC initiated coverage on Pasqal in a report on Wednesday, September 30th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, Cantor Fitzgerald assumed coverage on shares of Pasqal in a report on Friday. They issued an “overweight” rating and a $12.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Pasqal presently has an average rating of “Buy” and an average target price of $16.00.

Pasqal Price Performance

The company has a quick ratio of 2.04, a current ratio of 2.22 and a debt-to-equity ratio of 0.13.

About Pasqal

Pasqal is a quantum computing company headquartered in France that develops neutral-atom quantum processors and related software. Its systems use individually controlled atoms as qubits, with the aim of addressing complex computational problems that are difficult to solve with conventional computers.

The company provides access to its quantum computing technology through cloud-based platforms and works with customers and research organizations on applications including optimization, molecular and materials simulation, energy, logistics, finance, and machine learning.