In yesterday’s Wall Street session, D-Wave Quantum Inc. (NYSE:QBTS) shares traded at $1.34, up 20.72% from the previous session.
QBTS stock price is now -37.58% away from the 50-day moving average and -81.34% away from the 200-day moving average. The market capitalization of the company currently stands at $156.18M.
With the price target of $12, Piper Sandler recently initiated with Overweight rating for D-Wave Quantum Inc. (NYSE: QBTS). On August 30, 2022, ROTH Capital recently initiated its ‘Buy’ rating on the stock quoting a target price of $20.
In other news, WEST STEVEN M, Director bought 25,000 shares of the company’s stock on Nov 17. The stock was bought for $63,750 at an average price of $2.55. Upon completion of the transaction, the Director now directly owns 54,021 shares in the company, valued at $72388.14. A total of 35.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in QBTS stock. A new stake in D-Wave Quantum Inc. shares was purchased by PUBLIC SECTOR PENSION INVESTMENT BOARD during the first quarter worth $79,638,000. LOCKHEED MARTIN CORP invested $1,227,000 in shares of QBTS during the first quarter. In the first quarter, PENDERFUND CAPITAL MANAGEMENT LTD. acquired a new stake in D-Wave Quantum Inc. valued at approximately $1,002,000. FMR LLC acquired a new stake in QBTS for approximately $842,000. FIL LTD purchased a new stake in QBTS valued at around $728,000 in the second quarter. In total, there are 85 active investors with 62.80% ownership of the company’s stock.
Thursday morning saw D-Wave Quantum Inc. (NYSE: QBTS) opened at $1.1000. During the past 12 months, D-Wave Quantum Inc. has had a low of $1.02 and a high of $13.23. The fifty day moving average price for QBTS is $2.1466 and a two-hundred day moving average price translates $7.1800 for the stock.
The latest earnings results from D-Wave Quantum Inc. (NYSE: QBTS) was released for Jun, 2022. The company reported revenue of $1.7 million for the quarter, compared to $1.31 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 29.69 percent. For the current quarter, analysts expect QBTS to generate $2M in revenue.
D-Wave Quantum Inc.(QBTS) Company Profile
D-Wave Quantum Inc. develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Launch, a quantum computing onboarding service; Ocean a full suite of open-source programming tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community. It also provides D-Wave Launch, a quantum professional service that guides enterprises from problem discovery through in-production application deployment. The company’s quantum solutions are used in artificial intelligence, materials sciences, drug discovery, scheduling, cybersecurity, fault detection, and financial modeling. It serves manufacturing and logistics, financial services, life sciences, and other industries. D-Wave Quantum Inc. is based in Burnaby, Canada.