IQM Quantum Computers (NASDAQ:IQMX) Sees Significant Growth in Short Interest

IQM Quantum Computers (NASDAQ:IQMX) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,341,680 shares, a growth of 77.2% from the August 15th total of 756,953 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 506,276 shares, the short-interest ratio is currently 2.7 days.

Analyst Upgrades and Downgrades

Several research firms have weighed in on IQMX. Wall Street Zen upgraded shares of IQM Quantum Computers to a “hold” rating in a research report on Saturday, August 29th. Rothschild & Co Redburn began coverage on IQM Quantum Computers in a report on Monday, July 27th. They set a “neutral” rating and a $12.88 price objective on the stock. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.88.

IQM Quantum Computers Price Performance

Shares of IQM Quantum Computers stock opened at $8.84 on Friday. IQM Quantum Computers has a 52 week low of $8.74 and a 52 week high of $15.10. The company’s fifty day simple moving average is $10.41.

IQM Quantum Computers (NASDAQ:IQMX) last released its earnings results on Tuesday, August 4th. The quantum computing company reported ($1.37) earnings per share 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.