Pasqal (NASDAQ:PSQL) Stock Falls 9.2% – What’s Next?

Pasqal Holding SA (NASDAQ:PSQL) fell 9.2% during trading on Friday. The company traded as low as $3.63 and last traded at $3.6680. Approximately 172,638 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 777,448 shares. The stock had previously closed at $4.04.

Wall Street Analyst Weigh In

PSQL has been the subject of several recent research reports. Canaccord Genuity Group reissued a “buy” rating and set a $16.00 target price on shares of Pasqal in a research note on Monday, September 28th. Wall Street Zen upgraded shares of Pasqal to a “sell” rating in a report on Saturday, October 31st. Zacks Research upgraded shares of Pasqal to a “hold” rating in a research report on Thursday, September 24th. Williams Trading set a $16.00 price target on Pasqal in a report on Wednesday, September 30th. Finally, UBS Group set a $16.00 price objective on Pasqal in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $16.00.

Pasqal Price Performance

The stock has a 50 day moving average price of $6.31. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.22 and a quick ratio of 2.04.

Pasqal (NASDAQ:PSQL) last posted its quarterly earnings data on Wednesday, September 9th. The company reported ($5.56) earnings per share (EPS) for the quarter. The business had revenue of $7.13 million during the quarter. As a group, analysts expect that Pasqal Holding SA will post -0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pasqal

An institutional investor recently bought a new stake in Pasqal stock. HighTower Advisors LLC purchased a new stake in Pasqal Holding SA (NASDAQ:PSQL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,217,082 shares of the company’s stock, valued at approximately $14,101,000. HighTower Advisors LLC owned approximately 1.04% of Pasqal as of its most recent filing with the Securities and Exchange Commission.

Pasqal Company Profile

Pasqal is a France-based quantum computing company that develops quantum processors, software and application solutions based on neutral-atom technology. Its systems use individually controlled atoms to perform quantum computations and are designed to address complex problems that can be difficult to solve with conventional computing. The company provides quantum computing hardware and access to its technology through cloud-based platforms, along with software tools that enable customers and researchers to develop, test and run quantum algorithms.