Horizon Quantum Computing Pte. (NASDAQ:HQ) Sees Large Volume Increase – Should You Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) shares saw unusually-high trading volume on Friday . Approximately 183,699 shares traded hands during trading, an increase of 16% from the previous session’s volume of 158,798 shares.The stock last traded at $12.64 and had previously closed at $11.99.

Analyst Upgrades and Downgrades

HQ has been the topic of several analyst reports. Weiss Ratings initiated coverage on Horizon Quantum Computing Pte. in a report on Tuesday, April 21st. They set a “sell (e-)” rating on the stock. Wall Street Zen cut Horizon Quantum Computing Pte. to a “strong sell” rating in a report on Saturday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Horizon Quantum Computing Pte. Price Performance

The firm has a market cap of $716.96 million, a price-to-earnings ratio of -7.09 and a beta of 0.46.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its earnings results on Tuesday, May 5th. The quantum computing company reported ($0.09) earnings per share for the quarter.

About Horizon Quantum Computing Pte.

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.