D-Wave Quantum Inc [NYSE: QBTS] stock went on a downward path that fall over -4.88% on Thursday, amounting to a one-week price decrease of less than -9.30%.
Over the last 12 months, QBTS stock rose by 15.84%. The one-year D-Wave Quantum Inc stock forecast points to a potential upside of 61.0. The average equity rating for QBTS stock is currently 1.00, trading closer to a bullish pattern in the stock market.
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The market cap for the stock reached $147.86 million, with 161.11 million shares outstanding and 119.67 million shares in the current float. Compared to the average trading volume of 4.14M shares, QBTS stock reached a trading volume of 3067074 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $3.00 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.
Needham have made an estimate for D-Wave Quantum Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 08, 2024. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on October 19, 2022, representing the official price target for D-Wave Quantum Inc stock. Previously, the target price had yet another raise to $20, while ROTH Capital analysts kept a Buy rating on QBTS stock.
The Average True Range (ATR) for D-Wave Quantum Inc is set at 0.13, with the Price to Sales ratio for QBTS stock in the period of the last 12 months amounting to 15.34.
QBTS Stock Performance Analysis:
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 -9.30. With this latest performance, QBTS shares dropped by -23.03% in over the last four-week period, additionally plugging by 39.94% over the last 6 months – not to mention a rise of 15.84% 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 30.28, with the RSI for the last a single of trading hit 24.04, and the three-weeks RSI is set at 35.88 for D-Wave Quantum Inc [QBTS]. The present Moving Average for the last 50 days of trading for this stock 1.6498, while it was recorded at 1.2500 for the last single week of trading, and 1.2200 for the last 200 days.
Insight into D-Wave Quantum Inc Fundamentals:
D-Wave Quantum Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.91 and a Current Ratio set at 3.10.
QBTS Stock EPS
With the latest financial reports released by the company, D-Wave Quantum Inc posted -0.2/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -42.90%. 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.
D-Wave Quantum Inc [QBTS] Institutonal Ownership Details
The top three institutional holders of QBTS stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in QBTS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in QBTS stock with ownership which is approximately 5.8386%.