D-Wave Quantum Inc [NYSE: QBTS] traded at a high on Friday, posting a 12.50 gain after which it closed the day’ session at $1.17.
The results of the trading session contributed to over 13332692 shares changing hands. Over the past one week, the price volatility of D-Wave Quantum Inc stands at 9.06% while the volatility over the past one month is 7.26%.
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The market cap for QBTS stock reached $199.06 million, with 170.14 million shares outstanding and 121.09 million shares in the current float. Compared to the average trading volume of 2.99M shares, QBTS reached a trading volume of 13332692 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus 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 0.08, with the Price to Sales ratio for QBTS stock in the period of the last 12 months amounting to 19.67.
How has QBTS stock performed recently?
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 20.62. With this latest performance, QBTS shares gained by 21.88% in over the last four-week period, additionally sinking by -26.42% over the last 6 months – not to mention a rise of 30.80% 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 68.24, with the RSI for the last a single of trading hit 75.81, and the three-weeks RSI is set at 62.77 for D-Wave Quantum Inc [QBTS]. The present Moving Average for the last 50 days of trading for this stock 0.9644, while it was recorded at 1.0515 for the last single week of trading, and 1.2527 for the last 200 days.
D-Wave Quantum Inc [QBTS]: Deeper insight into the 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 analysis for D-Wave Quantum Inc [QBTS]
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.
Insider trade positions for D-Wave Quantum Inc [QBTS]
There are presently around $52.50%, or 53.40%% 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%.
