Shares of D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $4.68, but opened at $4.95. D-Wave Quantum shares last traded at $4.25, with a volume of 22,226,253 shares changing hands.
Analyst Ratings Changes
Several equities research analysts recently commented on QBTS shares. Needham & Company LLC reiterated a "buy" rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. Roth Mkm lowered their price target on shares of D-Wave Quantum from $3.00 to $2.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. Finally, B. Riley lifted their price objective on D-Wave Quantum from $3.75 to $4.50 and gave the stock a "buy" rating in a research report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $2.88.
View Our Latest Research Report on QBTS
D-Wave Quantum Price Performance
The stock has a 50-day moving average price of $1.78 and a 200 day moving average price of $1.31. The firm has a market cap of $916.22 million, a PE ratio of -9.52 and a beta of 1.77.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Baader Bank Aktiengesellschaft acquired a new stake in D-Wave Quantum during the second quarter worth about $28,000. Thoroughbred Financial Services LLC acquired a new stake in D-Wave Quantum during the 2nd quarter worth approximately $45,000. SG Americas Securities LLC purchased a new position in D-Wave Quantum in the third quarter valued at approximately $42,000. Bogart Wealth LLC acquired a new position in D-Wave Quantum during the third quarter valued at approximately $49,000. Finally, Instrumental Wealth LLC grew its stake in D-Wave Quantum by 85.9% during the second quarter. Instrumental Wealth LLC now owns 54,240 shares of the company's stock worth $62,000 after buying an additional 25,067 shares during the period. 42.47% of the stock is currently owned by hedge funds and other institutional investors.
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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