Horizon Quantum Computing Pte. (NASDAQ:HQ) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Horizon Quantum Computing Pte. (NASDAQ:HQ) from a sell rating to a strong sell rating in a research note released on Saturday morning.

A number of other equities research analysts also recently weighed in on the stock. Needham & Company LLC initiated coverage on shares of 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. Weiss Ratings raised shares of Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Horizon Quantum Computing Pte. currently has an average rating of “Hold” and a consensus target price of $20.00.

Horizon Quantum Computing Pte. Trading Down 1.5%

Horizon Quantum Computing Pte. stock opened at $14.13 on Friday. The firm has a market capitalization of $728.83 million, a P/E ratio of -7.21 and a beta of 0.30. The stock has a fifty day simple moving average of $19.00. Horizon Quantum Computing Pte. has a 12 month low of $8.29 and a 12 month high of $45.00.

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

Horizon Quantum Computing Pte. Company Profile

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.