D-Wave Quantum Inc [NYSE: QBTS] surged by $0.12 during the normal trading session on while it closed the day at $1.07.
D-Wave Quantum Inc stock has also gained 19.05% of its value over the past 7 days. However, QBTS stock has declined by -13.71% in the 3 months of the year. Over the past six months meanwhile, it has lost -41.21% and gained 21.58% year-on date.
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The market cap for QBTS stock reached $182.05 million, with 170.14 million shares outstanding and 119.78 million shares in the current float. Compared to the average trading volume of 4.11M shares, QBTS reached a trading volume of 6855942 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 $2.39 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.
B. Riley Securities have made an estimate for D-Wave Quantum Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 25, 2024. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on April 08, 2024, representing the official price target for D-Wave Quantum Inc stock. Previously, the target price had yet another raise to $12, while Piper Sandler analysts kept a Overweight rating on QBTS stock.
The Average True Range (ATR) for D-Wave Quantum Inc is set at 0.10, with the Price to Sales ratio for QBTS stock in the period of the last 12 months amounting to 17.99.
QBTS stock trade performance evaluation
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 19.05. With this latest performance, QBTS shares dropped by -0.93% in over the last four-week period, additionally sinking by -41.21% over the last 6 months – not to mention a drop of -22.46% 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 57.67, with the RSI for the last a single of trading hit 66.54, and the three-weeks RSI is set at 52.81 for D-Wave Quantum Inc [QBTS]. The present Moving Average for the last 50 days of trading for this stock 1.0529, while it was recorded at 0.9629 for the last single week of trading, and 1.2373 for the last 200 days.
D-Wave Quantum Inc [QBTS]: An insightful look at the core fundamentals
D-Wave Quantum Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.04 and a Current Ratio set at 1.09.
Earnings per share (EPS) analysis for D-Wave Quantum Inc [QBTS] stock
With the latest financial reports released by the company, D-Wave Quantum Inc posted -0.12/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 surpassed the estimates by a Surprise Factor of 0.02. 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]: Institutional Ownership
There are presently around $52.52%, or 53.42%% of QBTS stock, in the hands of institutional investors. The top three institutional holders of QBTS stocks are: PUBLIC SECTOR PENSION INVESTMENT BOARD with ownership of 59.43 million shares, which is approximately 36.8433%. BLACKROCK INC., holding 6.21 million shares of the stock with an approximate value of $$7.08 million in QBTS stocks shares; and BLACKROCK INC., currently with $$4.16 million in QBTS stock with ownership which is approximately 2.2602%.
