In yesterday’s Wall Street session, D-Wave Quantum Inc. (NYSE:QBTS) shares traded at $2.89, up 12.45% from the previous session.
As of this writing, 5 analysts cover D-Wave Quantum Inc. (NYSE:QBTS). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $3.00 and a low of $1.00, we find $2.00. Given the previous closing price of $2.57, this indicates a potential downside of -22.18 percent. QBTS stock price is now 88.83% away from the 50-day moving average and 47.10% away from the 200-day moving average. The market capitalization of the company currently stands at $439.42M.
There are 0 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $2.10 as their price target over the next twelve months.
With the price target of $12, Piper Sandler recently initiated with Overweight rating for D-Wave Quantum Inc. (NYSE: QBTS).
In other news, Michael Emil, Director sold 29,021 shares of the company’s stock on Jun 15. The stock was sold for $53,892 at an average price of $1.86. Upon completion of the transaction, the Director now directly owns 36,353 shares in the company, valued at $0.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 09, Brydon Victoria sold 15,000 shares of the business’s stock. A total of $35,850 was realized by selling the stock at an average price of $2.39. This leaves the insider owning 332,800 shares of the company worth $0.96 million. Insiders disposed of 35,063 shares of company stock worth roughly $0.1 million over the past 1 year. 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 SG AMERICAS SECURITIES, LLC during the first quarter worth $983,000. BRIDGEWAY CAPITAL MANAGEMENT, LLC invested $587,000 in shares of QBTS during the first quarter. In the first quarter, GROUP ONE TRADING, L.P. acquired a new stake in D-Wave Quantum Inc. valued at approximately $327,000. CIBC PRIVATE WEALTH GROUP, LLC acquired a new stake in QBTS for approximately $289,000. RENAISSANCE TECHNOLOGIES LLC purchased a new stake in QBTS valued at around $204,000 in the second quarter. In total, there are 30 active investors with 62.80% ownership of the company’s stock.
Tuesday morning saw D-Wave Quantum Inc. (NYSE: QBTS) opened at $2.6400. During the past 12 months, D-Wave Quantum Inc. has had a low of $0.40 and a high of $13.23. The fifty day moving average price for QBTS is $1.5800 and a two-hundred day moving average price translates $1.9453 for the stock.
The latest earnings results from D-Wave Quantum Inc. (NYSE: QBTS) was released for Mar, 2023. According to the Computer Hardware Company, earnings per share came in at -$0.2, missing analysts’ expectations of -$0.12 by -0.08. This compares to -$0.09 EPS in the same period last year. The company reported revenue of $1.58 million for the quarter, compared to $1.71 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -7.59 percent. For the current quarter, analysts expect QBTS to generate $2.3M 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; Ocean, a suite of open-source python 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 production implementation. The company’s quantum solutions are used in logistics, financial services, drug discovery, materials sciences, scheduling, fault detection, mobility, and supply chain management. It serves financial services, manufacturing/logistics, mobility, and life sciences/pharmaceuticals industries. D-Wave Quantum Inc. was founded in 1999 and is headquartered in Burnaby, Canada.
