IQM Quantum Computers (NASDAQ:IQMX) Shares Gap Up – Time to Buy?

IQM Quantum Computers (NASDAQ:IQMX)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $9.31, but opened at $9.73. IQM Quantum Computers shares last traded at $9.36, with a volume of 106,013 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IQMX. Rothschild & Co Redburn initiated coverage on shares of IQM Quantum Computers in a research note on Monday, July 27th. They set a “neutral” rating and a $12.88 price objective for the company. Wall Street Zen raised IQM Quantum Computers to a “hold” rating in a research note on Saturday, August 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $12.88.

IQM Quantum Computers Price Performance

The company’s fifty day moving average is $10.50.

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

IQM Quantum Computers Company Profile

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.