D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report)'s stock price rose 0.3% during mid-day trading on Monday . The stock traded as high as $7.77 and last traded at $7.27. Approximately 12,491,580 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 33,360,572 shares. The stock had previously closed at $7.25.
Analyst Upgrades and Downgrades
QBTS has been the topic of several analyst reports. B. Riley boosted their target price on D-Wave Quantum from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Craig Hallum increased their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Roth Mkm lifted their target price on shares of D-Wave Quantum from $7.00 to $10.00 and gave the stock a "buy" rating in a report on Friday, March 14th. Needham & Company LLC reiterated a "buy" rating and set a $8.50 price target on shares of D-Wave Quantum in a report on Wednesday, April 2nd. Finally, Benchmark reissued a "buy" rating and set a $8.00 price objective on shares of D-Wave Quantum in a report on Friday, March 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum currently has a consensus rating of "Buy" and a consensus target price of $8.42.
Read Our Latest Analysis on D-Wave Quantum
D-Wave Quantum Price Performance
The company has a market capitalization of $1.86 billion, a P/E ratio of -15.20 and a beta of 0.88. The firm's 50-day moving average is $6.96 and its 200-day moving average is $5.06.
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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.28). The firm had revenue of $2.31 million for the quarter, compared to analysts' expectations of $2.23 million. As a group, analysts forecast that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.
Insider Activity at D-Wave Quantum
In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $44,120.44. Following the completion of the transaction, the chief executive officer now directly owns 2,342,208 shares of the company's stock, valued at $12,343,436.16. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO John M. Markovich sold 5,582 shares of the company's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the sale, the chief financial officer now owns 1,064,556 shares in the company, valued at $5,610,210.12. This represents a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.22% of the stock is currently owned by insiders.
Institutional Trading of D-Wave Quantum
A number of institutional investors have recently bought and sold shares of the stock. Sowell Financial Services LLC bought a new stake in shares of D-Wave Quantum in the 1st quarter worth about $96,000. Brown Miller Wealth Management LLC purchased a new position in shares of D-Wave Quantum during the first quarter valued at approximately $870,000. BayBridge Capital Group LLC purchased a new stake in shares of D-Wave Quantum in the first quarter worth approximately $328,000. Southland Equity Partners LLC purchased a new position in D-Wave Quantum during the 1st quarter valued at $155,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in D-Wave Quantum in the 1st quarter valued at $116,000. 42.47% of the stock is currently owned by institutional investors.
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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