IQM Quantum Computers (NASDAQ:IQMX) Hits New 52-Week Low – Time to Sell?

IQM Quantum Computers (NASDAQ:IQMX)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $9.00 and last traded at $9.21, with a volume of 496268 shares trading hands. The stock had previously closed at $9.65.

Wall Street Analyst Weigh In

Separately, Rothschild & Co Redburn began coverage on shares of IQM Quantum Computers in a report on Monday, July 27th. They set a “neutral” rating and a $12.88 price objective on the stock. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.88.

IQM Quantum Computers Trading Down 4.6%

IQM Quantum Computers (NASDAQ:IQMX) last issued its quarterly earnings data 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.

IQM Quantum Computers Company Profile

IQM Quantum Computers is a quantum computing company focused on developing superconducting quantum processors, quantum computers, and related software and services. The company works to make quantum technology available for research institutions, enterprises, and other organizations seeking to explore and apply quantum computing in practical settings.

Founded in Finland, IQM has positioned itself as a European developer in the quantum computing industry. Its offerings are centered on full-stack quantum computing solutions, including hardware, control systems, and cloud-based access to quantum resources, with an emphasis on helping customers experiment with and build quantum applications.

The company serves customers and collaborators in Europe and other international markets through its commercial and research relationships.