D-Wave Quantum Inc [NYSE: QBTS] stock went on a downward path that fall over -5.41% on Friday, amounting to a one-week price decrease of less than -39.96%.
Over the last 12 months, QBTS stock rose by 580.34%. The one-year D-Wave Quantum Inc stock forecast points to a potential downside of -5.68. The average equity rating for QBTS stock is currently 1.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $1.55 billion, with 164.20 million shares outstanding and 121.91 million shares in the current float. Compared to the average trading volume of 47.59M shares, QBTS stock reached a trading volume of 85227679 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 $5.46 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 1.66, with the Price to Sales ratio for QBTS stock in the period of the last 12 months amounting to 164.86.
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 -39.96. With this latest performance, QBTS shares gained by 24.09% in over the last four-week period, additionally plugging by 388.98% over the last 6 months – not to mention a rise of 580.34% 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 45.54, with the RSI for the last a single of trading hit 38.77, and the three-weeks RSI is set at 49.41 for D-Wave Quantum Inc [QBTS]. The present Moving Average for the last 50 days of trading for this stock 4.43, while it was recorded at 8.15 for the last single week of trading, and 2.00 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 1.28 and a Current Ratio set at 1.36.
D-Wave Quantum Inc [QBTS] Institutonal Ownership Details
There are presently around $55.45%, or 56.46%% 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%.
