IQM Quantum Computers (NASDAQ:IQMX) Trading Up 8.7% – What’s Next?

IQM Quantum Computers (NASDAQ:IQMX) shares were up 8.7% on Monday . The company traded as high as $10.35 and last traded at $10.37. Approximately 181,639 shares were traded during trading, a decline of 60% from the average daily volume of 456,641 shares. The stock had previously closed at $9.54.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IQMX. Wall Street Zen upgraded shares of IQM Quantum Computers to a “hold” rating in a report on Saturday, August 29th. Rothschild & Co Redburn began coverage on IQM Quantum Computers in a report on Monday, July 27th. They issued a “neutral” rating and a $12.88 price objective on the stock. Finally, BTIG Research began coverage on IQM Quantum Computers in a report on Monday. They set a “buy” rating and a $20.00 target price for the company. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, IQM Quantum Computers has an average rating of “Moderate Buy” and a consensus target price of $16.44.

IQM Quantum Computers Stock Performance

The firm has a 50 day simple moving average of $10.28.

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 during 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.