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

Wall Street Zen downgraded shares of IQM Quantum Computers (NASDAQ:IQMX) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

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

IQM Quantum Computers Trading Up 2.0%

NASDAQ IQMX opened at $10.56 on Friday. IQM Quantum Computers has a one year low of $8.74 and a one year high of $15.10. The business’s fifty day simple moving average is $10.15.

IQM Quantum Computers (NASDAQ:IQMX) last issued 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.

IQM Quantum Computers Company Profile

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.