IQM Quantum Computers (NASDAQ:IQMX) Stock Has Average Target Price of $16.44

IQM Quantum Computers (NASDAQ:IQMX) has received an average rating of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $16.44.

Several analysts recently commented on IQMX shares. TD Cowen assumed coverage on IQM Quantum Computers in a research note on Friday, October 2nd. They set a “buy” rating on the stock. Weiss Ratings began coverage on IQM Quantum Computers in a research report on Friday, September 25th. They set a “sell (d)” rating on the stock. Wall Street Zen cut IQM Quantum Computers from a “hold” rating to a “sell” rating in a research note on Saturday, October 3rd. Zacks Research raised shares of IQM Quantum Computers to a “hold” rating in a research note on Tuesday, October 6th. Finally, Rothschild & Co Redburn started coverage on shares of IQM Quantum Computers in a report on Monday, July 27th. They set a “neutral” rating and a $12.88 target price on the stock.

Institutional Investors Weigh In On IQM Quantum Computers

An institutional investor recently bought a new stake in IQM Quantum Computers stock. GAMMA Investing LLC acquired a new position in shares of IQM Quantum Computers (NASDAQ:IQMX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,943 shares of the quantum computing company’s stock, valued at approximately $31,000.

IQM Quantum Computers Stock Performance

Shares of IQMX opened at $10.23 on Thursday. The firm has a market capitalization of $2.69 billion, a PE ratio of -7.47 and a beta of 0.56. The stock has a 50-day moving average price of $10.15. IQM Quantum Computers has a one year low of $8.74 and a one year high of $15.10.

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. On average, sell-side analysts forecast that IQM Quantum Computers will post -3.30 EPS for the current year.

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.