IQM Quantum Computers (NASDAQ:IQMX) Reaches New 1-Year Low – Time to Sell?

IQM Quantum Computers (NASDAQ:IQMX) hit a new 52-week low during trading on Monday. The company traded as low as $8.73 and last traded at $8.8460, with a volume of 22,197 shares trading hands. The stock had previously closed at $9.01.

Analyst Upgrades and Downgrades

IQMX has been the subject of several analyst reports. TD Cowen started coverage on shares of IQM Quantum Computers in a research note on Friday, October 2nd. They issued a “buy” rating for the company. Zacks Research raised IQM Quantum Computers to a “hold” rating in a research note on Tuesday, October 6th. Wall Street Zen downgraded IQM Quantum Computers from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Weiss Ratings began coverage on shares of IQM Quantum Computers in a report on Friday, September 25th. They issued a “sell (d)” rating on the stock. Finally, BTIG Research began coverage on shares of IQM Quantum Computers in a research report on Monday, September 21st. They set a “buy” rating and a $20.00 target price for the company. Two 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.44.

IQM Quantum Computers Price Performance

The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -6.58 and a beta of 0.56. The company’s 50-day moving average price is $10.14.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in IQM Quantum Computers stock. SLT Holdings LLC acquired a new stake in IQM Quantum Computers (NASDAQ:IQMX) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 74,750 shares of the quantum computing company’s stock, valued at approximately $775,000.

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.