D-Wave Quantum Inc. (NYSE:QBTS – Get Free Report) shares saw an uptick in trading volume on Friday after Roth Mkm raised their price target on the stock from $7.00 to $10.00. Roth Mkm currently has a buy rating on the stock. 70,861,464 shares traded hands during trading, a decline of 8% from the previous session’s volume of 76,752,141 shares.The stock last traded at $9.28 and had previously closed at $6.91.
Several other research analysts have also recently weighed in on QBTS. Needham & Company LLC reaffirmed a “buy” rating and set a $8.50 price objective on shares of D-Wave Quantum in a research report on Friday. B. Riley upped 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. Benchmark reiterated a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a report on Friday. Finally, Craig Hallum upped their target price on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $8.42.
Check Out Our Latest Stock Analysis on D-Wave Quantum
Insiders Place Their Bets
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriflex Group Inc. acquired a new position in D-Wave Quantum during the 4th quarter worth about $205,000. Fourth Dimension Wealth LLC bought a new stake in D-Wave Quantum in the 4th quarter valued at about $26,000. Voloridge Investment Management LLC bought a new stake in D-Wave Quantum in the 4th quarter valued at about $2,063,000. Squarepoint Ops LLC bought a new stake in D-Wave Quantum in the 4th quarter valued at about $1,989,000. Finally, Tidal Investments LLC bought a new stake in D-Wave Quantum in the 4th quarter valued at about $104,000. 42.47% of the stock is owned by institutional investors and hedge funds.
D-Wave Quantum Trading Up 47.4 %
The firm has a market capitalization of $2.74 billion, a P/E ratio of -24.25 and a beta of 1.12. The business has a 50-day moving average of $6.07 and a 200 day moving average of $3.88.
About D-Wave Quantum
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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