IQM Quantum Computers (NASDAQ:IQMX) Reaches New 12-Month Low – What’s Next?

IQM Quantum Computers (NASDAQ:IQMX) hit a new 52-week low on Monday. The company traded as low as $8.73 and last traded at $8.8460, with a volume of 22,197 shares trading hands. The stock had previously closed at $9.01.

Analyst Ratings Changes

IQMX has been the topic of several research reports. BTIG Research assumed coverage on IQM Quantum Computers in a research note on Monday, September 21st. They set a “buy” rating and a $20.00 target price on the stock. TD Cowen started coverage on IQM Quantum Computers in a research report on Friday, October 2nd. They issued a “buy” rating for the company. Wall Street Zen downgraded IQM Quantum Computers from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Weiss Ratings began coverage on shares of IQM Quantum Computers in a research note on Friday, September 25th. They set a “sell (d)” rating on the stock. Finally, Zacks Research upgraded shares of IQM Quantum Computers to a “hold” rating in a research note on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, IQM Quantum Computers currently has an average rating of “Hold” and an average price target of $16.44.

IQM Quantum Computers Trading Up 5.9%

The firm has a 50 day simple moving average of $10.10.

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

Institutional Trading of IQM Quantum Computers

A hedge fund recently bought a new position in IQM Quantum Computers stock. SLT Holdings LLC bought a new stake in IQM Quantum Computers (NASDAQ:IQMX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 74,750 shares of the quantum computing company’s stock, valued at approximately $775,000.

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.