IQM Quantum Computers (NASDAQ:IQMX) Stock Rating Upgraded by Zacks Research

IQM Quantum Computers (NASDAQ:IQMX) was upgraded by Zacks Research to a “hold” rating in a report released on Tuesday, Zacks reports.

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

IQM Quantum Computers Stock Down 3.9%

Shares of NASDAQ IQMX opened at $10.45 on Tuesday. The firm has a fifty day moving average of $10.15. IQM Quantum Computers has a fifty-two week low of $8.74 and a fifty-two week high of $15.10.

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 company had revenue of $7.77 million during the quarter. As a group, equities research analysts forecast that IQM Quantum Computers will post -3.3 EPS for the current fiscal year.

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.