IQM Quantum Computers (NASDAQ:IQMX) Shares Gap Up – Time to Buy?

IQM Quantum Computers (NASDAQ:IQMX)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $10.12, but opened at $10.60. IQM Quantum Computers shares last traded at $10.0960, with a volume of 50,897 shares changing hands.

Analyst Upgrades and Downgrades

IQMX has been the subject of several research reports. Rothschild & Co Redburn started coverage on IQM Quantum Computers in a report on Monday, July 27th. They set a “neutral” rating and a $12.88 price target for the company. Weiss Ratings started coverage on IQM Quantum Computers in a research note on Friday, September 25th. They set a “sell (d)” rating for the company. BTIG Research initiated coverage on IQM Quantum Computers in a report on Monday, September 21st. They set a “buy” rating and a $20.00 price objective on the stock. Wall Street Zen raised IQM Quantum Computers to a “hold” rating in a research note on Saturday, August 29th. Finally, TD Cowen started coverage on IQM Quantum Computers in a report on Friday. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.44.

IQM Quantum Computers Stock Performance

The stock’s 50 day simple moving average is $10.16.

IQM Quantum Computers (NASDAQ:IQMX) last announced its earnings results on Tuesday, August 4th. The quantum computing company reported ($1.37) EPS for the quarter. The company had revenue of $7.77 million for 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.