IQM Quantum Computers (NASDAQ:IQMX) Stock Rating Raised to “Hold” at Zacks Research

Zacks Research upgraded shares of IQM Quantum Computers (NASDAQ:IQMX) to a hold rating in a report published on Tuesday,Zacks reports.

Several other research analysts also recently issued reports on the stock. BTIG Research began coverage on shares of IQM Quantum Computers in a research report on Monday, September 21st. They set a “buy” rating and a $20.00 price objective on the stock. TD Cowen started coverage on IQM Quantum Computers in a research report on Friday, October 2nd. They issued a “buy” rating on the stock. Wall Street Zen downgraded IQM Quantum Computers from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Weiss Ratings assumed coverage on IQM Quantum Computers in a report on Friday, September 25th. They issued a “sell (d)” rating on the stock. Finally, Rothschild & Co Redburn started coverage on IQM Quantum Computers in a research note on Monday, July 27th. They set a “neutral” rating and a $12.88 price target for the company. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, IQM Quantum Computers presently has a consensus rating of “Hold” and a consensus target price of $16.44.

IQM Quantum Computers Price Performance

IQMX stock opened at $10.45 on Tuesday. IQM Quantum Computers has a twelve month low of $8.74 and a twelve month high of $15.10. The company has a 50 day moving average price of $10.15.

IQM Quantum Computers (NASDAQ:IQMX) last announced its earnings results on Tuesday, August 4th. The quantum computing company reported ($1.37) earnings per share (EPS) for the quarter. The firm had revenue of $7.77 million for the quarter. On average, sell-side analysts predict that IQM Quantum Computers will post -3.3 EPS for the current year.

About IQM Quantum Computers

IQM Quantum Computers is a Finland-based quantum computing company that develops superconducting quantum processors and complete quantum computing systems. Its technology is designed for use by research institutions, universities, high-performance computing centers and commercial organizations exploring applications such as simulation, optimization and machine learning.

The company provides quantum hardware, system integration and related software and services. Its offerings support both on-premises installations and access through cloud-based environments, allowing customers to develop and run quantum algorithms alongside conventional computing resources.

Founded in 2018 by a group of quantum technology researchers and entrepreneurs, IQM has expanded its operations across Europe, including activities in Finland, Germany, France, Spain and Poland.