IQM Quantum Computers (NASDAQ:IQMX) Shares Gap Up – What’s Next?

IQM Quantum Computers (NASDAQ:IQMX) shares gapped up before the market opened on Wednesday. The stock had previously closed at $10.71, but opened at $11.00. IQM Quantum Computers shares last traded at $10.56, with a volume of 217,135 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IQMX. Wall Street Zen raised shares of IQM Quantum Computers to a “hold” rating in a research report on Saturday, August 29th. BTIG Research initiated coverage on shares of IQM Quantum Computers in a research note on Monday. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Rothschild & Co Redburn initiated coverage on shares of IQM Quantum Computers in a report on Monday, July 27th. They issued a “neutral” rating and a $12.88 price objective for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.44.

IQM Quantum Computers Stock Performance

The company’s fifty day moving average is $10.24.

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

IQM Quantum Computers Company Profile

IQM Quantum Computers is a Finnish quantum-computing company that develops superconducting quantum processors and complete quantum-computing systems. Its offerings are designed for research institutions, universities, government organizations and commercial enterprises seeking access to quantum-computing capabilities.

The company provides on-premises quantum computers, quantum processing units and related software and services. It also supports customers through cloud-based access and partnerships intended to help organizations develop and test quantum applications in areas such as scientific research, optimization and simulation.

Founded in Finland in 2018 by quantum-technology researchers and entrepreneurs, IQM has expanded its operations across Europe, including locations in Finland, Germany, France and Spain.