D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) shares traded up 4.8% on Thursday . The company traded as high as $7.64 and last traded at $7.48. 14,042,633 shares traded hands during trading, a decline of 81% from the average session volume of 72,436,305 shares. The stock had previously closed at $7.13.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Benchmark reiterated a "buy" rating and set a $8.00 price target on shares of D-Wave Quantum in a research report on Friday, March 14th. Needham & Company LLC reissued a "buy" rating and issued a $8.50 price objective on shares of D-Wave Quantum in a research note on Wednesday, April 2nd. Roth Mkm raised their price objective on shares of D-Wave Quantum from $7.00 to $10.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Finally, B. Riley raised their price objective on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $8.42.
Get Our Latest Stock Report on D-Wave Quantum
D-Wave Quantum Price Performance
The company has a market cap of $2.16 billion, a PE ratio of -17.70 and a beta of 0.88. The business's 50 day moving average is $6.99 and its 200-day moving average is $5.21.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.28). The firm had revenue of $2.31 million for the quarter, compared to analyst estimates of $2.23 million. As a group, sell-side analysts predict that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.
Institutional Trading of D-Wave Quantum
Several institutional investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. lifted its position in shares of 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 buying an additional 1,766 shares during the last quarter. Invesco Ltd. increased its holdings in shares of D-Wave Quantum by 5.1% in the 4th quarter. Invesco Ltd. now owns 42,619 shares of the company's stock valued at $358,000 after acquiring an additional 2,051 shares during the period. Corebridge Financial Inc. increased its holdings in shares of D-Wave Quantum by 5.0% in 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 during the period. Veracity Capital LLC increased its holdings in shares of D-Wave Quantum by 9.3% in the 1st quarter. Veracity Capital LLC now owns 29,725 shares of the company's stock valued at $226,000 after acquiring an additional 2,532 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at $26,000. Hedge funds and other institutional investors own 42.47% of the company's stock.
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.
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