D-Wave Quantum Inc [NYSE: QBTS] closed the trading session at $0.71 on 11/09/23. The day’s price range saw the stock hit a low of $0.57, while the highest price level was $0.929. The company report on November 9, 2023 at 7:00 AM that D-Wave Reports Third Quarter Results.
Revenue of $2.6 Million, up 50% Sequentially from Q2Commercial Revenue up 62% Year-Over-YearTotal Bookings of $2.9 Million$53.3 Million Cash Balance – Highest in Company’s History.
D-Wave Quantum Inc., (NYSE: QBTS) (“D-Wave” or the “Company”) a leader in commercial quantum computing systems, software, and services, today announced financial results for its fiscal third quarter ended September 30, 2023.
The stocks have a year to date performance of -50.56 percent and weekly performance of -26.62 percent. The stock has been moved at 58.20 percent over the last six months. The stock has performed -27.42 percent around the most recent 30 days and changed -50.90 percent over the most recent 3-months.
If compared to the average trading volume of 2.50M shares, QBTS reached to a volume of 3930694 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about D-Wave Quantum Inc [QBTS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for QBTS shares is $4.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on QBTS stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for D-Wave Quantum Inc shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 19, 2022.
The Average True Range (ATR) for D-Wave Quantum Inc is set at 0.14, with the Price to Sales ratio for QBTS stock in the period of the last 12 months amounting to 9.54.
QBTS stock trade performance evaluation
D-Wave Quantum Inc [QBTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -26.62. With this latest performance, QBTS shares dropped by -27.42% in over the last four-week period, additionally plugging by 58.20% over the last 6 months – not to mention a drop of -73.03% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for QBTS stock in for the last two-week period is set at 42.12, with the RSI for the last a single of trading hit 41.70, and the three-weeks RSI is set at 42.07 for D-Wave Quantum Inc [QBTS]. The present Moving Average for the last 50 days of trading for this stock 0.9184, while it was recorded at 0.8034 for the last single week of trading, and 1.1578 for the last 200 days.
D-Wave Quantum Inc [QBTS]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and D-Wave Quantum Inc [QBTS] shares currently have an operating margin of -828.91 and a Gross Margin at +59.25. D-Wave Quantum Inc’s Net Margin is presently recorded at -718.37.
Return on Total Capital for QBTS is now -41.13, given the latest momentum, and Return on Invested Capital for the company is -36.10. Return on Equity for this stock declined to -38.11, with Return on Assets sitting at -31.47. Additionally, QBTS Total Debt to Total Capital is recorded at 146.12, with Total Debt to Total Assets ending up at 69.53.
Reflecting on the efficiency of the workforce at the company, D-Wave Quantum Inc [QBTS] managed to generate an average of -$239,670 per employee. Receivables Turnover for the company is 13.30 with a Total Asset Turnover recorded at a value of 0.04.D-Wave Quantum Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.31 and a Current Ratio set at 0.38.
D-Wave Quantum Inc [QBTS]: Institutional Ownership
The top three institutional holders of QBTS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in QBTS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in QBTS stock with ownership which is approximately 5.7994%.