Pasqal (NASDAQ:PSQL) Hits New 52-Week Low – Here’s What Happened

Pasqal Holding SA (NASDAQ:PSQL)’s stock price hit a new 52-week low during trading on Wednesday. The stock traded as low as $4.93 and last traded at $5.0310, with a volume of 220,650 shares. The stock had previously closed at $5.33.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PSQL shares. Wall Street Zen raised Pasqal to a “sell” rating in a research note on Saturday. Cantor Fitzgerald initiated coverage on Pasqal in a research note on Friday, October 30th. They issued an “overweight” rating and a $12.00 price target for the company. Roth Capital initiated coverage on shares of Pasqal in a research report on Wednesday, September 9th. They issued a “buy” rating and a $20.00 price target on the stock. Zacks Research upgraded Pasqal to a “hold” rating in a report on Thursday, September 24th. Finally, UBS Group set a $16.00 price target on shares of Pasqal in a report on Tuesday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $16.00.

Pasqal Trading Down 6.5%

The stock has a 50-day moving average of $6.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.22 and a quick ratio of 2.04.

Pasqal Company Profile

Pasqal is a France-based quantum computing company that develops quantum processors, software and application solutions based on neutral-atom technology. Its systems use individually controlled atoms to perform quantum computations and are designed to address complex problems that can be difficult to solve with conventional computing.

The company provides quantum computing hardware and access to its technology through cloud-based platforms, along with software tools that enable customers and researchers to develop, test and run quantum algorithms.