Wall Street Zen Downgrades IQM Quantum Computers (NASDAQ:IQMX) to Sell

IQM Quantum Computers (NASDAQ:IQMX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

IQMX has been the subject of a number of other reports. Rothschild & Co Redburn began coverage on shares of IQM Quantum Computers in a report on Monday, July 27th. They issued a “neutral” rating and a $12.88 price target for the company. BTIG Research initiated coverage on shares of IQM Quantum Computers in a report on Monday, September 21st. They issued a “buy” rating and a $20.00 target price on the stock. TD Cowen initiated coverage on shares of IQM Quantum Computers in a research note on Friday. They set a “buy” rating for the company. Finally, Weiss Ratings initiated coverage on shares of IQM Quantum Computers in a report on Friday, September 25th. They set a “sell (d)” rating for the company. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, IQM Quantum Computers currently has a consensus rating of “Hold” and a consensus target price of $16.44.

IQM Quantum Computers Stock Performance

IQMX opened at $10.35 on Friday. IQM Quantum Computers has a one year low of $8.74 and a one year high of $15.10. The stock has a fifty day moving average price of $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 for the quarter. The company had revenue of $7.77 million during the quarter.

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.