IQM Quantum Computers (NASDAQ:IQMX) Sets New 1-Year Low – What’s Next?

IQM Quantum Computers (NASDAQ:IQMX)’s share price reached a new 52-week low on Friday . The company traded as low as $8.74 and last traded at $8.84, with a volume of 768269 shares changing hands. The stock had previously closed at $9.33.

Analyst Ratings Changes

IQMX has been the subject of several recent research reports. 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 target price for the company. Wall Street Zen raised shares of IQM Quantum Computers to a “hold” rating in a research report on Saturday, August 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.88.

IQM Quantum Computers Trading Up 7.9%

The company’s 50-day moving average price is $10.35.

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