Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) Short Interest Update

Horizon Quantum Computing Pte. Ltd. (NASDAQ:HQ) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 815,505 shares, a growth of 120.3% from the June 15th total of 370,155 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average trading volume of 2,044,449 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

HQ has been the topic of several research analyst reports. Needham & Company LLC assumed coverage on Horizon Quantum Computing Pte. in a research note on Wednesday, June 3rd. They set a “buy” rating and a $20.00 price target on the stock. 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. Finally, Weiss Ratings upgraded Horizon Quantum Computing Pte. from a “sell (e)” rating to a “sell (e+)” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.00.

Horizon Quantum Computing Pte. Price Performance

NASDAQ:HQ opened at $20.93 on Friday. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of -10.68 and a beta of 0.11. Horizon Quantum Computing Pte. has a 1-year low of $8.29 and a 1-year high of $45.00. The business has a fifty day simple moving average of $18.25.

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