Horizon Quantum shares are trading higher after the company and Q.M Technologies announced a strategic collaboration to support the development of efficient quantum systems.

Craig-Hallum Initiates Coverage On Horizon Quantum Holdings with Buy Rating, Announces Price Target of $21

Craig-Hallum analyst Richard Shannon initiates coverage on Horizon Quantum Holdings (NASDAQ:HQ) with a Buy rating and announces Price Target of $21.

Shares of software companies are trading higher, possibly amid broader market strength as promising economic data and easing oil prices reduce rate-hike concerns. Reports suggesting Silver Lake is in talks to acquire Workday may be lifting related peers.

Horizon Quantum Holdings shares are trading higher after the company reported Q2 results, with cash boosted to $113.3 million, the Beryllium launch, and a Quantum Machines collaboration.

Horizon Quantum Holdings Q2 EPS $(2.20) Down From $(0.07) YoY

Horizon Quantum Holdings (NASDAQ:HQ) reported quarterly losses of $(2.20) per share. This is a 3042.86 percent decrease over losses of $(0.07) per share from the same period last year.