IQM Quantum Computers (NASDAQ:IQMX) Sees Significant Increase in Short Interest

IQM Quantum Computers (NASDAQ:IQMX) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 1,341,680 shares, an increase of 77.2% from the August 15th total of 756,953 shares. Based on an average daily trading volume, of 506,276 shares, the short-interest ratio is currently 2.7 days. Approximately 0.5% of the company’s stock are sold short.

IQM Quantum Computers Trading Up 0.2%

Shares of NASDAQ:IQMX traded up $0.02 during mid-day trading on Wednesday, reaching $9.33. 447,100 shares of the company traded hands, compared to its average volume of 439,396. The stock’s 50 day simple moving average is $10.50. IQM Quantum Computers has a 52 week low of $9.00 and a 52 week high of $15.10.

IQM Quantum Computers (NASDAQ:IQMX) last issued its earnings results on Tuesday, August 4th. The quantum computing company reported ($1.37) earnings per share (EPS) for the quarter. The company had revenue of $7.77 million during the quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IQMX shares. Rothschild & Co Redburn started coverage on IQM Quantum Computers in a report on Monday, July 27th. They set a “neutral” rating and a $12.88 price target for the company. Wall Street Zen upgraded shares of IQM Quantum Computers to a “hold” rating in a research note on Saturday, August 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $12.88.

About IQM Quantum Computers

IQM Quantum Computers is a Finnish quantum-computing company that develops superconducting quantum processors and complete quantum-computing systems. Its offerings are designed for research institutions, universities, government organizations and commercial enterprises seeking access to quantum-computing capabilities.

The company provides on-premises quantum computers, quantum processing units and related software and services. It also supports customers through cloud-based access and partnerships intended to help organizations develop and test quantum applications in areas such as scientific research, optimization and simulation.

Founded in Finland in 2018 by quantum-technology researchers and entrepreneurs, IQM has expanded its operations across Europe, including locations in Finland, Germany, France and Spain.