IQM Quantum Computers (NASDAQ:IQMX) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded IQM Quantum Computers from “Hold” to “Sell,” adding to mixed analyst sentiment. The stock has two Buy ratings, one Hold and one Sell, with a consensus target price of $16.44.
• IQMX shares opened at $10.35, near their 50-day moving average of $10.16, and have traded between $8.74 and $15.10 over the past year.
• In its latest quarter, IQM reported a $1.37 per-share loss and $7.77 million in revenue. The Finland-based company develops superconducting quantum processors, systems and related software and services.

IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

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

IQM Quantum Computers Trading Up 2.3%

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

IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) last announced its earnings results 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.

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.

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