IQM Quantum Computers (NASDAQ:IQMX) Stock Rated “Hold” by Sell-Side Brokerages

IQM Quantum Computers (NASDAQ:IQMX) has received an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $16.44.

A number of analysts have recently issued reports on IQMX shares. TD Cowen began coverage on shares of IQM Quantum Computers in a report on Friday, October 2nd. They issued a “buy” rating on the stock. Zacks Research upgraded shares of IQM Quantum Computers to a “hold” rating in a report on Tuesday, October 6th. Weiss Ratings started coverage on shares of IQM Quantum Computers in a research report on Friday, September 25th. They issued a “sell (d)” rating for the company. Rothschild & Co Redburn began coverage on shares of IQM Quantum Computers in a research note on Monday, July 27th. They issued a “neutral” rating and a $12.88 price target on the stock. Finally, Wall Street Zen lowered shares of IQM Quantum Computers from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd.

Hedge Funds Weigh In On IQM Quantum Computers

An institutional investor recently bought a new stake in IQM Quantum Computers stock. GAMMA Investing LLC bought a new stake in IQM Quantum Computers (NASDAQ:IQMX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,943 shares of the quantum computing company’s stock, valued at approximately $31,000.

IQM Quantum Computers Stock Down 0.2%

IQMX stock opened at $10.21 on Thursday. The firm has a market capitalization of $2.69 billion, a PE ratio of -7.45 and a beta of 0.56. IQM Quantum Computers has a fifty-two week low of $8.74 and a fifty-two week high of $15.10. The stock’s 50-day moving average price is $10.16.

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 company had revenue of $7.77 million during the quarter. As a group, sell-side analysts anticipate that IQM Quantum Computers will post -3.30 earnings per share for the current fiscal 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.