Pasqal (NASDAQ:PSQL) Sets New 52-Week Low – Here’s Why

Pasqal Holding SA (NASDAQ:PSQL) reached a new 52-week low during trading on Monday. The company traded as low as $5.45 and last traded at $5.62, with a volume of 122,295 shares trading hands. The stock had previously closed at $5.56.

Wall Street Analyst Weigh In

PSQL has been the subject of several recent research reports. Roth Capital began coverage on Pasqal in a research note on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price target for the company. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Pasqal in a research note on Monday, September 28th. Williams Trading set a $16.00 target price on Pasqal in a report on Wednesday, September 30th. Zacks Research upgraded Pasqal to a “hold” rating in a report on Thursday, September 24th. Finally, Needham & Company LLC started coverage on shares of Pasqal in a research report on Wednesday, September 30th. They set a “buy” rating and a $16.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Pasqal currently has an average rating of “Buy” and an average target price of $16.80.

Pasqal Stock Up 0.6%

The company has a current ratio of 2.22, a quick ratio of 2.04 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.