IQM Quantum Computers (NASDAQ:IQMX) Stock Rating Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of IQM Quantum Computers (NASDAQ:IQMX) from a hold rating to a sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently issued reports on IQMX. TD Cowen started coverage on IQM Quantum Computers in a report on Friday. They set a “buy” rating on the stock. Weiss Ratings initiated coverage on shares of IQM Quantum Computers in a report on Friday, September 25th. They issued a “sell (d)” rating for the company. BTIG Research started coverage on shares of IQM Quantum Computers in a research report on Monday, September 21st. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Rothschild & Co Redburn assumed coverage on shares of IQM Quantum Computers in a research note on Monday, July 27th. They set a “neutral” rating and a $12.88 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $16.44.

IQM Quantum Computers Trading Up 2.3%

Shares of IQMX stock opened at $10.35 on Friday. IQM Quantum Computers has a 12-month low of $8.74 and a 12-month high of $15.10. The stock has a 50-day moving average price of $10.16.

IQM Quantum Computers (NASDAQ:IQMX) last announced its quarterly earnings results on Tuesday, August 4th. The quantum computing company reported ($1.37) EPS for the quarter. The company had revenue of $7.77 million during the quarter.

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.