IQM Quantum Computers (NASDAQ:IQMX) Shares Gap Up – Time to Buy?

IQM Quantum Computers (NASDAQ:IQMX) gapped up prior to trading on Friday. The stock had previously closed at $10.12, but opened at $10.60. IQM Quantum Computers shares last traded at $10.0960, with a volume of 50,897 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IQMX. BTIG Research assumed coverage on IQM Quantum Computers in a report on Monday, September 21st. They set a “buy” rating and a $20.00 price target for the company. Wall Street Zen raised shares of IQM Quantum Computers to a “hold” rating in a research report on Saturday, August 29th. Rothschild & Co Redburn started coverage on shares of IQM Quantum Computers in a research report on Monday, July 27th. They set a “neutral” rating and a $12.88 target price on the stock. Weiss Ratings started coverage on shares of IQM Quantum Computers in a research note on Friday, September 25th. They set a “sell (d)” rating for the company. Finally, TD Cowen initiated coverage on shares of IQM Quantum Computers in a report on Friday. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, IQM Quantum Computers has an average rating of “Hold” and an average target price of $16.44.

IQM Quantum Computers Stock Down 0.3%

The business’s 50 day moving average price is $10.16.

IQM Quantum Computers (NASDAQ:IQMX) last posted its quarterly earnings results on Tuesday, August 4th. The quantum computing company reported ($1.37) EPS for the quarter. The business had revenue of $7.77 million during the quarter.

IQM Quantum Computers Company Profile

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.