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

IQM Quantum Computers (NASDAQ:IQMX) shares gapped up before the market opened on Monday. The stock had previously closed at $10.23, but opened at $10.60. IQM Quantum Computers shares last traded at $10.50, with a volume of 58,804 shares.

Wall Street Analyst Weigh In

IQMX has been the subject of several analyst reports. Wall Street Zen downgraded IQM Quantum Computers from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Weiss Ratings began coverage on IQM Quantum Computers in a report on Friday, September 25th. They issued a “sell (d)” rating on the stock. Zacks Research raised IQM Quantum Computers to a “hold” rating in a research report on Tuesday, October 6th. BTIG Research began coverage on IQM Quantum Computers in a research report on Monday, September 21st. They set a “buy” rating and a $20.00 target price on the stock. Finally, 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. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.44.

IQM Quantum Computers Trading Down 3.2%

The company has a 50 day simple moving average of $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 firm had revenue of $7.77 million for the quarter. As a group, equities analysts expect that IQM Quantum Computers will post -3.30 earnings per share for the current year.

Institutional Investors Weigh In On IQM Quantum Computers

An institutional investor 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 Form 13F filing with the Securities and Exchange Commission. The firm bought 2,943 shares of the quantum computing company’s stock, valued at approximately $31,000.

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.