IQM Quantum Computers (NASDAQ:IQMX) Shares Gap Up - Should You Buy?

Key Points

• IQM Quantum Computers shares rose 2.9%, opening at $10.60 compared with a prior close of $10.23, while trading volume reached 58,804 shares.
• Analyst views remain mixed: two analysts rate the stock Buy, two Hold and one Sell, producing a consensus Hold rating and a $16.44 average price target.
• The company reported a quarterly loss of $1.37 per share on $7.77 million in revenue, and analysts expect a full-year loss of $3.30 per share, highlighting ongoing profitability risks.

IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) shares gapped up prior to trading on Monday. The stock had previously closed at $10.23, but opened at $10.60. IQM Quantum Computers shares last traded at $10.50, with a volume of 58,804 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IQMX shares. TD Cowen started coverage on IQM Quantum Computers in a report on Friday, October 2nd. They set a "buy" rating for the company. Rothschild & Co Redburn assumed coverage on IQM Quantum Computers in a report on Monday, July 27th. They issued a "neutral" rating and a $12.88 target price on the stock. Wall Street Zen cut IQM Quantum Computers from a "hold" rating to a "sell" rating in a research report on Saturday, October 3rd. Zacks Research upgraded IQM Quantum Computers to a "hold" rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings initiated coverage on IQM Quantum Computers in a research note on Friday, September 25th. They set a "sell (d)" rating for the company. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $16.44.

IQM Quantum Computers Trading Up 2.9%

The firm's fifty day moving average price is $10.15. The firm has a market capitalization of $2.77 billion, a P/E ratio of -7.69 and a beta of 0.56.

IQM Quantum Computers (NASDAQ:IQMX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The quantum computing company reported ($1.37) earnings per share for the quarter. The firm had revenue of $7.77 million for the quarter. Research analysts anticipate that IQM Quantum Computers will post -3.30 EPS for the current year.

Institutional Investors Weigh In On IQM Quantum Computers

An institutional investor recently bought a new position in IQM Quantum Computers stock. GAMMA Investing LLC bought a new stake in shares of IQM Quantum Computers (NASDAQ:IQMX - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,943 shares of the quantum computing company's stock, valued at approximately $31,000.

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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