D-Wave Quantum Inc [NYSE: QBTS] gained 7.69% or 0.15 points to close at $2.10 with a heavy trading volume of 4081777 shares. The company report on March 18, 2024 at 7:00 AM that D-Wave Bolsters Executive Leadership Team for Rapid Growth and Strategic Execution.
Addition of Chief Revenue Officer and Chief Development Officer to guide D-Wave’s go-to-market efforts and innovation roadmap as quantum computing’s impact grows.
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D-Wave Quantum Inc. (NYSE: QBTS) (“D-Wave” or the “Company”), a leader in quantum computing systems, software, and services and the world’s first commercial supplier of quantum computers, today announced it is expanding its executive team to supercharge both its go-to-market growth strategy and product innovation.
The daily chart for QBTS points out that the company has recorded 123.43% gains over the past six months.
If we look at the average trading volume of 4.12M shares, QBTS reached to a volume of 4081777 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $2.55 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. While these analysts kept the previous recommendation, ROTH Capital raised their target price to Buy. The new note on the price target was released on August 30, 2022, representing the official price target for D-Wave Quantum Inc stock.
The Average True Range (ATR) for D-Wave Quantum Inc is set at 0.26, with the Price to Sales ratio for QBTS stock in the period of the last 12 months amounting to 28.87.
Trading performance analysis for QBTS stock
D-Wave Quantum Inc [QBTS] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.44. With this latest performance, QBTS shares gained by 11.70% in over the last four-week period, additionally plugging by 123.43% over the last 6 months – not to mention a rise of 309.28% 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 56.87, with the RSI for the last a single of trading hit 56.01, and the three-weeks RSI is set at 57.59 for D-Wave Quantum Inc [QBTS]. The present Moving Average for the last 50 days of trading for this stock 1.5100, while it was recorded at 1.9900 for the last single week of trading, and 1.3400 for the last 200 days.
D-Wave Quantum Inc [QBTS]: A deeper dive into fundamental analysis
D-Wave Quantum Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.29 and a Current Ratio set at 1.34.
D-Wave Quantum Inc [QBTS]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, D-Wave Quantum Inc posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for QBTS.
An analysis of Institutional ownership at D-Wave Quantum Inc [QBTS]
The top three institutional holders of QBTS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in QBTS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in QBTS stock with ownership which is approximately 5.8325%.
