D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) was down 2.3% on Wednesday . The stock traded as low as $7.02 and last traded at $7.07. Approximately 6,046,237 shares changed hands during trading, a decline of 83% from the average daily volume of 34,753,054 shares. The stock had previously closed at $7.23.
Analyst Ratings Changes
Several brokerages have recently weighed in on QBTS. Needham & Company LLC reissued a "buy" rating and issued a $8.50 target price on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. B. Riley upped their price objective on D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, March 14th. Roth Mkm lifted their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a report on Friday, March 14th. Finally, Benchmark restated a "buy" rating and issued a $8.00 target price on shares of D-Wave Quantum in a research note on Friday, March 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $8.42.
View Our Latest Stock Report on D-Wave Quantum
D-Wave Quantum Price Performance
The company has a market cap of $2.02 billion, a P/E ratio of -16.49 and a beta of 0.90. The business has a 50-day moving average of $7.15 and a two-hundred day moving average of $5.64.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The firm had revenue of $2.31 million during the quarter, compared to analysts' expectations of $2.23 million. Equities analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. lifted its stake in D-Wave Quantum by 5.8% in the 1st quarter. Victory Capital Management Inc. now owns 31,097 shares of the company's stock valued at $236,000 after buying an additional 1,698 shares in the last quarter. Summit Investment Advisors Inc. boosted its stake in D-Wave Quantum by 20.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company's stock worth $87,000 after purchasing an additional 1,766 shares during the last quarter. Invesco Ltd. grew its holdings in shares of D-Wave Quantum by 5.1% during the fourth quarter. Invesco Ltd. now owns 42,619 shares of the company's stock worth $358,000 after buying an additional 2,051 shares in the last quarter. Corebridge Financial Inc. grew its stake in D-Wave Quantum by 5.0% during the 4th quarter. Corebridge Financial Inc. now owns 49,174 shares of the company's stock valued at $413,000 after acquiring an additional 2,342 shares in the last quarter. Finally, Veracity Capital LLC boosted its holdings in shares of D-Wave Quantum by 9.3% during the 1st quarter. Veracity Capital LLC now owns 29,725 shares of the company's stock worth $226,000 after purchasing an additional 2,532 shares during the last quarter. 42.47% of the stock is owned by institutional investors and hedge funds.
D-Wave Quantum Company Profile
(
Get Free Report)
D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.
See Also
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