IQM Quantum Computers (NASDAQ:IQMX) Sets New 12-Month Low – What’s Next?

IQM Quantum Computers (NASDAQ:IQMX)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as $9.00 and last traded at $9.21, with a volume of 496268 shares trading hands. The stock had previously closed at $9.65.

Analyst Upgrades and Downgrades

Separately, Rothschild & Co Redburn assumed coverage on IQM Quantum Computers in a research note on Monday, July 27th. They issued a “neutral” rating and a $12.88 target price on the stock. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, IQM Quantum Computers currently has a consensus rating of “Hold” and a consensus price target of $12.88.

IQM Quantum Computers Trading Up 2.4%

IQM Quantum Computers (NASDAQ:IQMX) last released its quarterly 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 for the quarter.

About IQM Quantum Computers

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.