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

IQM Quantum Computers (NASDAQ:IQMX) has been given an average recommendation of “Hold” by the five ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $16.44.

A number of equities analysts have commented on IQMX shares. TD Cowen initiated coverage on shares of IQM Quantum Computers in a research report on Friday, October 2nd. They set a “buy” rating for the company. Rothschild & Co Redburn assumed coverage on IQM Quantum Computers in a report on Monday, July 27th. They issued a “neutral” rating and a $12.88 price objective for the company. Wall Street Zen cut shares of IQM Quantum Computers from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. BTIG Research began coverage on IQM Quantum Computers in a research note on Monday, September 21st. They set a “buy” rating and a $20.00 target price for the company. Finally, Weiss Ratings initiated coverage on IQM Quantum Computers in a research note on Friday, September 25th. They issued a “sell (d)” rating on the stock.

Hedge Funds Weigh In On IQM Quantum Computers

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

IQM Quantum Computers Trading Down 2.7%

Shares of IQMX stock opened at $9.61 on Thursday. The company has a fifty day simple moving average of $10.17. IQM Quantum Computers has a 1 year low of $8.74 and a 1 year high of $15.10.

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

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.