Horizon Quantum Computing Pte. (NASDAQ:HQ) Shares Down 10% – Time to Sell?

Shares of Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) fell 10% during trading on Thursday . The company traded as low as $23.64 and last traded at $24.3160. 286,551 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 560,142 shares. The stock had previously closed at $27.03.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports 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. Needham & Company LLC started coverage on shares of Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price objective for the company. 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 equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.00.

Horizon Quantum Computing Pte. Trading Down 11.3%

The firm has a fifty day moving average price of $15.59. The stock has a market capitalization of $1.24 billion, a PE ratio of -12.28 and a beta of 0.65.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its quarterly earnings results 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.