IQM Quantum Computers (NASDAQ:IQMX) Stock Price Up 7.5% – Still a Buy?

IQM Quantum Computers (NASDAQ:IQMX) shares were up 7.5% during mid-day trading on Thursday . The company traded as high as $9.81 and last traded at $9.7850. 49,527 shares were traded during trading, a decline of 89% from the average daily volume of 461,517 shares. The stock had previously closed at $9.10.

Wall Street Analyst Weigh In

Separately, Rothschild & Co Redburn began coverage on IQM Quantum Computers in a research report on Monday, July 27th. They set a “neutral” rating and a $12.88 price target on the stock. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, IQM Quantum Computers presently has a consensus rating of “Hold” and an average target price of $12.88.

IQM Quantum Computers Price Performance

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

IQM Quantum Computers Company Profile

IQM Quantum Computers is a quantum computing company focused on developing superconducting quantum processors, quantum computers, and related software and services. The company works to make quantum technology available for research institutions, enterprises, and other organizations seeking to explore and apply quantum computing in practical settings.

Founded in Finland, IQM has positioned itself as a European developer in the quantum computing industry. Its offerings are centered on full-stack quantum computing solutions, including hardware, control systems, and cloud-based access to quantum resources, with an emphasis on helping customers experiment with and build quantum applications.

The company serves customers and collaborators in Europe and other international markets through its commercial and research relationships.