IQM Quantum Computers (NASDAQ:IQMX) Upgraded at Zacks Research

Zacks Research upgraded shares of IQM Quantum Computers (NASDAQ:IQMX) to a hold rating in a research note released on Tuesday morning,Zacks reports.

A number of other brokerages have also weighed in on IQMX. Wall Street Zen lowered shares of IQM Quantum Computers from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Rothschild & Co Redburn started coverage on IQM Quantum Computers in a research note on Monday, July 27th. They issued a “neutral” rating and a $12.88 price target on the stock. BTIG Research started coverage on IQM Quantum Computers in a research note on Monday, September 21st. They issued a “buy” rating and a $20.00 price target on the stock. Weiss Ratings assumed coverage on IQM Quantum Computers in a report on Friday, September 25th. They issued a “sell (d)” rating on the stock. Finally, TD Cowen started coverage on IQM Quantum Computers in a research report on Friday, October 2nd. They set a “buy” rating for the company. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $16.44.

IQM Quantum Computers Stock Down 2.7%

IQM Quantum Computers stock opened at $10.17 on Tuesday. IQM Quantum Computers has a twelve month low of $8.74 and a twelve month high of $15.10. The firm has a 50 day moving average of $10.14.

IQM Quantum Computers (NASDAQ:IQMX) last issued its quarterly earnings data 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. As a group, equities research analysts predict that IQM Quantum Computers will post -3.3 EPS for the current fiscal year.

Institutional Trading of IQM Quantum Computers

A hedge fund recently bought a new stake in IQM Quantum Computers stock. GAMMA Investing LLC bought a new position in shares of IQM Quantum Computers (NASDAQ:IQMX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,943 shares of the quantum computing company’s stock, valued at approximately $31,000.

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.