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

Key Points

• Analyst consensus is “Hold” for IQM Quantum Computers, based on five ratings: two buys, two holds and one sell. The average 12-month price target is $16.44, compared with the stock’s latest price of $8.58.
• IQMX shares have traded between $8.41 and $15.10 over the past year, with a market capitalization of approximately $2.26 billion and a negative price-to-earnings ratio of -6.26.
• The company reported a quarterly loss of $1.37 per share on revenue of $7.77 million, while analysts expect a full-year loss of $3.30 per share. Separately, SLT Holdings acquired 74,750 shares valued at roughly $775,000.

Shares of IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) have been assigned an average recommendation of "Hold" from the five ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $16.44.

Several brokerages have recently issued reports on IQMX. BTIG Research began coverage on IQM Quantum Computers in a research report on Monday, September 21st. They issued a "buy" rating and a $20.00 price objective on the stock. TD Cowen assumed coverage on IQM Quantum Computers in a research note on Friday, October 2nd. They issued a "buy" rating on the stock. Weiss Ratings initiated coverage on IQM Quantum Computers in a research report on Friday, September 25th. They issued a "sell (d)" rating on the stock. Rothschild & Co Redburn assumed coverage on IQM Quantum Computers in a report on Monday, July 27th. They set a "neutral" rating and a $12.88 target price on the stock. Finally, Wall Street Zen downgraded IQM Quantum Computers from a "hold" rating to a "sell" rating in a report on Saturday, October 3rd.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in IQM Quantum Computers stock. SLT Holdings LLC acquired a new stake in IQM Quantum Computers (NASDAQ:IQMX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 74,750 shares of the quantum computing company's stock, valued at approximately $775,000.

IQM Quantum Computers Stock Performance

IQM Quantum Computers stock opened at $8.58 on Monday. The firm's 50 day moving average is $10.05. IQM Quantum Computers has a 1 year low of $8.41 and a 1 year high of $15.10. The company has a market capitalization of $2.26 billion, a PE ratio of -6.26 and a beta of 0.78.

IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) last released its earnings results on Tuesday, August 4th. The quantum computing company reported ($1.37) earnings per share for the quarter. The business had revenue of $7.77 million for the quarter. Sell-side analysts expect that IQM Quantum Computers will post -3.30 earnings per share for the current fiscal year.

About IQM Quantum Computers

IQM Quantum Computers is a Finnish quantum-computing company that develops full-stack quantum systems based on superconducting quantum processors. The company provides quantum hardware, control electronics, software and related integration services designed to help research institutions, businesses and public-sector organizations explore quantum applications.

Founded in 2018 by a group of quantum-technology researchers and entrepreneurs, including Chief Executive Officer and co-founder Jan Goetz, IQM has its headquarters in Espoo, Finland.

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