D-Wave Quantum Inc. (NYSE:QBTS – Get Free Report) shot up 8.8% during trading on Monday 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. D-Wave Quantum traded as high as $11.39 and last traded at $11.05. 106,051,759 shares traded hands during mid-day trading, an increase of 273% from the average session volume of 28,448,333 shares. The stock had previously closed at $10.15.
Several other equities analysts have also commented on the company. Benchmark restated a “buy” rating and set a $8.00 price target on shares of D-Wave Quantum in a research note on Friday. 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 note on Friday, December 20th. 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 Friday. Finally, 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. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $8.42.
Insider Transactions at D-Wave Quantum
Institutional Investors Weigh In On D-Wave Quantum
Several institutional investors and hedge funds have recently made changes to their positions in QBTS. Barclays PLC raised its stake in shares of D-Wave Quantum by 298.3% in the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after purchasing an additional 89,894 shares during the last quarter. Silverleafe Capital Partners LLC purchased a new position in D-Wave Quantum during the 4th quarter worth approximately $820,000. Truist Financial Corp acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $108,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $488,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of D-Wave Quantum by 341.7% in the 4th quarter. Jones Financial Companies Lllp now owns 23,688 shares of the company’s stock valued at $199,000 after acquiring an additional 18,325 shares during the last quarter. 42.47% of the stock is currently owned by institutional investors and hedge funds.
D-Wave Quantum Stock Up 10.4 %
The stock’s 50 day moving average price is $6.09 and its two-hundred day moving average price is $3.98. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -26.68 and a beta of 1.12.
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.
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