Needham & Company LLC began coverage on shares of D-Wave Quantum (NYSE:QBTS - Free Report) in a report published on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $2.50 price target on the stock.
A number of other research analysts have also weighed in on QBTS. Craig Hallum raised their target price on shares of D-Wave Quantum from $1.75 to $2.50 and gave the stock a buy rating in a research note on Monday, April 1st. Benchmark raised their target price on shares of D-Wave Quantum from $2.00 to $4.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Finally, Roth Mkm raised their target price on shares of D-Wave Quantum from $2.00 to $3.00 and gave the stock a buy rating in a research note on Monday, April 1st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of Buy and a consensus price target of $2.80.
Read Our Latest Research Report on QBTS
D-Wave Quantum Price Performance
D-Wave Quantum stock traded down $0.02 during midday trading on Monday, reaching $1.86. The company had a trading volume of 3,521,856 shares, compared to its average volume of 4,241,416. The company has a market capitalization of $296.67 million, a P/E ratio of -2.99 and a beta of 0.90. D-Wave Quantum has a 12-month low of $0.40 and a 12-month high of $3.20. The firm's fifty day simple moving average is $1.72 and its 200-day simple moving average is $1.17.
Institutional Trading of D-Wave Quantum
A number of hedge funds and other institutional investors have recently made changes to their positions in QBTS. Credit Suisse AG acquired a new stake in shares of D-Wave Quantum during the 3rd quarter worth approximately $228,000. Geode Capital Management LLC acquired a new stake in D-Wave Quantum in the 4th quarter valued at approximately $313,000. Charles Schwab Investment Management Inc. acquired a new stake in D-Wave Quantum in the 4th quarter valued at approximately $299,000. B. Riley Wealth Advisors Inc. acquired a new stake in D-Wave Quantum in the 4th quarter valued at approximately $64,000. Finally, Renaissance Technologies LLC acquired a new stake in D-Wave Quantum in the 1st quarter valued at approximately $47,000. Institutional investors and hedge funds own 42.47% of the company's stock.
About D-Wave Quantum
(
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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.
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