Craig Hallum Begins Coverage on Horizon Quantum Computing Pte. (NASDAQ:HQ)

Equities research analysts at Craig Hallum began coverage on shares of Horizon Quantum Computing Pte. (NASDAQ:HQ) in a note issued to investors on Monday. The firm set a “buy” rating and a $21.00 price target on the quantum computing company’s stock. Craig Hallum’s price target would indicate a potential upside of 23.60% from the company’s current price.

HQ has been the topic of a number of other research reports. Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday, June 17th. Needham & Company LLC initiated coverage on Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price objective for the company. Finally, Wall Street Zen lowered Horizon Quantum Computing Pte. from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.50.

Horizon Quantum Computing Pte. Stock Performance

Shares of Horizon Quantum Computing Pte. stock opened at $16.99 on Monday. The stock’s 50 day moving average price is $19.24. Horizon Quantum Computing Pte. has a 1-year low of $8.29 and a 1-year high of $45.00. The company has a market cap of $876.31 million, a P/E ratio of -36.93 and a beta of 0.30.

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