Pasqal (NASDAQ:PSQL) Given “Buy” Rating at Canaccord Genuity Group

Pasqal (NASDAQ:PSQL)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a report released on Monday, Benzinga reports. They currently have a $16.00 price objective on the stock. Canaccord Genuity Group’s target price points to a potential upside of 166.22% from the company’s previous close.

PSQL has been the subject of several other reports. UBS Group set a $16.00 target price on shares of Pasqal in a report on Tuesday, September 22nd. Roth Capital assumed coverage on Pasqal in a research note on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Zacks Research raised Pasqal to a “hold” rating in a research note on Thursday, September 24th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $16.80.

Pasqal Price Performance

Shares of NASDAQ PSQL traded down $0.25 during trading on Monday, reaching $6.01. The company had a trading volume of 518,941 shares, compared to its average volume of 907,977. Pasqal has a 12-month low of $5.90 and a 12-month high of $24.69.

Pasqal Company Profile

Pasqal is a quantum computing company focused on developing neutral-atom quantum technology. The company designs quantum processors that use individually controlled atoms as qubits, along with the hardware, control systems and software needed to operate quantum computers.

Its offerings include access to quantum computing systems through cloud-based platforms, as well as software tools and services intended to help organizations develop and run quantum algorithms. Pasqal targets applications such as optimization, simulation, machine learning, drug discovery, energy and financial modeling.

Founded in France in 2019 by Georges-Olivier Reymond, Pasqal serves research institutions, corporations and public-sector organizations.