IQM Quantum Computers (NASDAQ:IQMX) Short Interest Up 77.2% in August

IQM Quantum Computers (NASDAQ:IQMX) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,341,680 shares, a growth of 77.2% from the August 15th total of 756,953 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average trading volume of 506,276 shares, the days-to-cover ratio is currently 2.7 days.

Analysts Set New Price Targets

Several analysts have recently weighed in on IQMX shares. Wall Street Zen raised shares of IQM Quantum Computers to a “hold” rating in a research note on Saturday, August 29th. Rothschild & Co Redburn initiated coverage on IQM Quantum Computers in a report on Monday, July 27th. They set a “neutral” rating and a $12.88 price objective on the stock. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.88.

IQM Quantum Computers Trading Up 0.2%

NASDAQ:IQMX traded up $0.02 during trading hours on Wednesday, hitting $9.33. 447,100 shares of the company were exchanged, compared to its average volume of 439,396. The company’s 50 day moving average is $10.50. IQM Quantum Computers has a 52-week low of $9.00 and a 52-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) 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.