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

Pasqal Holding SA (NASDAQ:PSQL)’s share price hit a new 52-week low on Friday. The company traded as low as $6.83 and last traded at $6.99, with a volume of 616228 shares. The stock had previously closed at $7.34.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PSQL shares. UBS Group set a $16.00 price objective on Pasqal in a research report on Tuesday. Canaccord Genuity Group assumed coverage on Pasqal in a research report on Tuesday. They issued a “buy” rating and a $16.00 target price on the stock. Finally, Roth Capital started coverage on Pasqal in a research note on Wednesday, September 9th. They issued a “buy” rating and a $20.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.33.

Pasqal Trading Down 4.8%

About Pasqal

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.