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

Pasqal Holding SA (NASDAQ:PSQL) shares hit a new 52-week low on Thursday. The company traded as low as $4.10 and last traded at $4.0710, with a volume of 426,498 shares changing hands. The stock had previously closed at $4.52.

Wall Street Analyst Weigh In

PSQL has been the subject of a number of research reports. UBS Group set a $16.00 price target on Pasqal in a research report on Tuesday, September 22nd. Benchmark raised Pasqal to a “strong-buy” rating in a report on Tuesday, October 6th. Williams Trading set a $16.00 target price on Pasqal in a research report on Wednesday, September 30th. Wall Street Zen upgraded shares of Pasqal to a “sell” rating in a report on Saturday, October 31st. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $16.00 price target on shares of Pasqal in a research report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $16.00.

Pasqal Stock Down 10.6%

The firm’s fifty day moving average price is $6.36. 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 (NASDAQ:PSQL) last issued its quarterly earnings data on Wednesday, September 9th. The company reported ($5.56) EPS for the quarter. The firm had revenue of $7.13 million for the quarter. Sell-side analysts expect that Pasqal Holding SA will post -0.55 earnings per share for the current year.

Institutional Trading of Pasqal

A hedge fund recently bought a new position in Pasqal stock. HighTower Advisors LLC bought a new stake in shares of Pasqal Holding SA (NASDAQ:PSQL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,217,082 shares of the company’s stock, valued at approximately $14,101,000. HighTower Advisors LLC owned approximately 1.04% of Pasqal at the end of the most recent reporting period.

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.