IQM Quantum Computers (NASDAQ:IQMX) Stock Has Consensus Price Target of $16.44

Shares of IQM Quantum Computers (NASDAQ:IQMX) have earned an average rating of “Hold” from the five analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $16.44.

IQMX has been the topic of several research analyst reports. BTIG Research initiated coverage on shares of IQM Quantum Computers in a research note on Monday, September 21st. They issued a “buy” rating and a $20.00 price objective on the stock. TD Cowen initiated coverage on shares of IQM Quantum Computers in a report on Friday, October 2nd. They issued a “buy” rating for the company. Wall Street Zen downgraded shares of IQM Quantum Computers from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings assumed coverage on shares of IQM Quantum Computers in a research report on Friday, September 25th. They issued a “sell (d)” rating on the stock. Finally, Zacks Research upgraded shares of IQM Quantum Computers to a “hold” rating in a report on Tuesday, October 6th.

Institutional Investors Weigh In On IQM Quantum Computers

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in IQM Quantum Computers during the third quarter valued at about $31,000. Private Management Group Inc. bought a new stake in shares of IQM Quantum Computers in the 3rd quarter worth approximately $162,000. Finally, SLT Holdings LLC bought a new stake in shares of IQM Quantum Computers in the 3rd quarter worth approximately $775,000.

IQM Quantum Computers Stock Performance

Shares of NASDAQ:IQMX opened at $8.80 on Monday. The company has a 50-day simple moving average of $9.92. IQM Quantum Computers has a 52-week low of $8.33 and a 52-week high of $15.10.

IQM Quantum Computers (NASDAQ:IQMX) last issued its quarterly earnings results on Tuesday, August 4th. The quantum computing company reported ($1.37) EPS for the quarter. The business had revenue of $7.77 million during the quarter. On average, sell-side analysts predict that IQM Quantum Computers will post -3.30 earnings per share for the current year.

IQM Quantum Computers Company Profile

IQM Quantum Computers is a Finnish quantum-computing company that develops full-stack quantum systems based on superconducting quantum processors. The company provides quantum hardware, control electronics, software and related integration services designed to help research institutions, businesses and public-sector organizations explore quantum applications.

Founded in 2018 by a group of quantum-technology researchers and entrepreneurs, including Chief Executive Officer and co-founder Jan Goetz, IQM has its headquarters in Espoo, Finland.