IQM Quantum Computers (NASDAQ:IQMX) Trading Down 4.8% – What’s Next?

IQM Quantum Computers (NASDAQ:IQMX)’s stock price fell 4.8% during trading on Thursday . The company traded as low as $9.00 and last traded at $8.8830. 546,080 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 440,275 shares. The stock had previously closed at $9.33.

Analyst Upgrades and Downgrades

IQMX has been the subject of several recent research reports. Wall Street Zen upgraded shares of IQM Quantum Computers to a “hold” rating in a research note on Saturday, August 29th. Rothschild & Co Redburn assumed coverage on IQM Quantum Computers in a research note on Monday, July 27th. They set a “neutral” rating and a $12.88 price objective for the company. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.88.

IQM Quantum Computers Trading Down 4.8%

The company has a 50 day moving average price of $10.48.

IQM Quantum Computers (NASDAQ:IQMX) last announced 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.

About IQM Quantum Computers

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.