IQM Quantum Computers (NASDAQ:IQMX) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded IQM Quantum Computers to a “Hold” rating. Analyst opinions remain mixed, with two Buy, two Hold and one Sell rating, producing a consensus “Hold” and average price target of $16.44.
• IQMX shares opened at $10.45 after falling 3.9%, trading between a 52-week low of $8.74 and high of $15.10.
• The company reported a quarterly loss of $1.37 per share on $7.77 million in revenue, while analysts expect a full-year loss of approximately $3.30 per share.

IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) was upgraded by research analysts at Zacks Research to a "hold" rating in a note issued to investors on Tuesday, Zacks reports.

A number of other equities research analysts have also recently issued reports on IQMX. Wall Street Zen cut IQM Quantum Computers from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd. TD Cowen began coverage on IQM Quantum Computers in a research report on Friday, October 2nd. They set a "buy" rating on the stock. BTIG Research initiated coverage on shares of IQM Quantum Computers in a report on Monday, September 21st. They issued a "buy" rating and a $20.00 price objective on the stock. Weiss Ratings started coverage on shares of IQM Quantum Computers in a report on Friday, September 25th. They set a "sell (d)" rating for the company. Finally, Rothschild & Co Redburn assumed coverage on shares of IQM Quantum Computers in a research report on Monday, July 27th. They issued a "neutral" rating and a $12.88 target price for the company. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $16.44.

IQM Quantum Computers Stock Down 3.9%

Shares of NASDAQ IQMX opened at $10.45 on Tuesday. The firm's 50 day moving average price is $10.15. IQM Quantum Computers has a 52-week low of $8.74 and a 52-week high of $15.10.

IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) last announced its quarterly 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. As a group, equities research analysts predict that IQM Quantum Computers will post -3.3 earnings per share 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.

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