Horizon Quantum Computing Pte. (NASDAQ:HQ) Hits New 12-Month High – Time to Buy?

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $45.00 and last traded at $38.39, with a volume of 2336208 shares changing hands. The stock had previously closed at $32.00.

Analysts Set New Price Targets

HQ has been the topic of a number of analyst reports. Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a report on Wednesday, June 17th. Needham & Company LLC assumed coverage on Horizon Quantum Computing Pte. in a research report on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price objective on the stock. Finally, Wall Street Zen upgraded Horizon Quantum Computing Pte. from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.00.

Horizon Quantum Computing Pte. Price Performance

The stock has a market cap of $1.47 billion, a PE ratio of -14.56 and a beta of 0.65. The firm has a 50 day moving average price of $14.22.

Horizon Quantum Computing Pte. (NASDAQ:HQ) last issued its quarterly 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.