D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) shares saw strong trading volume on Monday . 33,554,500 shares changed hands during trading, an increase of 392% from the previous session's volume of 6,815,465 shares.The stock last traded at $4.99 and had previously closed at $5.06.
Analysts Set New Price Targets
A number of analysts recently weighed in on QBTS shares. B. Riley increased their price objective on shares of D-Wave Quantum from $3.75 to $4.50 and gave the stock a "buy" rating in a report on Monday, November 25th. Benchmark reduced their price target on D-Wave Quantum from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Monday, August 12th. Needham & Company LLC reissued a "buy" rating and set a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Finally, Roth Mkm cut their price objective on shares of D-Wave Quantum from $3.00 to $2.00 and set a "buy" rating on the stock in a research note on Tuesday, August 13th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum currently has a consensus rating of "Buy" and a consensus target price of $2.88.
Read Our Latest Research Report on QBTS
D-Wave Quantum Stock Performance
The company has a market cap of $1.04 billion, a P/E ratio of -11.07 and a beta of 1.77. The stock has a 50 day moving average price of $1.63 and a 200 day moving average price of $1.26.
Hedge Funds Weigh In On D-Wave Quantum
Several hedge funds have recently made changes to their positions in QBTS. Baader Bank Aktiengesellschaft acquired a new stake in shares of D-Wave Quantum during the second quarter worth $28,000. Thoroughbred Financial Services LLC acquired a new stake in D-Wave Quantum during the 2nd quarter worth about $45,000. SG Americas Securities LLC acquired a new position in shares of D-Wave Quantum in the third quarter worth about $42,000. Bogart Wealth LLC acquired a new position in shares of D-Wave Quantum in the third quarter worth about $49,000. Finally, Instrumental Wealth LLC raised its holdings in shares of D-Wave Quantum by 85.9% during the second quarter. Instrumental Wealth LLC now owns 54,240 shares of the company's stock valued at $62,000 after acquiring an additional 25,067 shares during the period. Institutional investors and hedge funds own 42.47% of the company's stock.
About D-Wave Quantum
(
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.
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