D-Wave Quantum Inc. (NYSE:QBTS) Given Consensus Rating of “Buy” by Analysts

Shares of D-Wave Quantum Inc. (NYSE:QBTS) have been assigned a consensus rating of “Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $2.88.

A number of equities analysts have commented on QBTS shares. Benchmark cut their price target on shares of D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Roth Mkm cut their target price on shares of D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a research note on Friday, November 15th. B. Riley increased their price objective on D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Westpark Capital restated a “buy” rating and issued a $3.00 target price on shares of D-Wave Quantum in a research report on Friday, August 9th.

D-Wave Quantum Trading Up 8.3 %

Shares of NYSE QBTS opened at $2.99 on Wednesday. The business has a 50-day moving average of $1.46 and a 200-day moving average of $1.21. The firm has a market capitalization of $669.79 million, a price-to-earnings ratio of -7.12 and a beta of 1.79. D-Wave Quantum has a 12 month low of $0.68 and a 12 month high of $3.77.

Institutional Investors Weigh In On D-Wave Quantum

A number of hedge funds and other institutional investors have recently modified their holdings of QBTS. Vanguard Group Inc. increased its stake in D-Wave Quantum by 17.9% in the 1st quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock worth $2,183,000 after purchasing an additional 162,688 shares during the period. Virtu Financial LLC increased its stake in shares of D-Wave Quantum by 217.0% in the first quarter. Virtu Financial LLC now owns 124,689 shares of the company’s stock worth $254,000 after buying an additional 85,351 shares during the period. Penserra Capital Management LLC raised its holdings in D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after buying an additional 839,942 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in D-Wave Quantum during the 2nd quarter valued at $163,000. Finally, Bank of New York Mellon Corp purchased a new stake in D-Wave Quantum during the 2nd quarter valued at $251,000. Institutional investors own 42.47% of the company’s stock.

D-Wave Quantum Company Profile

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.