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D-Wave Quantum Inc. (QBTS) Looks Set To Grow At A Great Clip In 2023

D-Wave Quantum Inc. (NYSE:QBTS) has seen 1.13 million shares traded in the last trading session. The company, currently valued at $143.65M, closed the last trade at $1.25 per share which meant it lost -$0.03 on the day or -2.34% during that session. The QBTS stock price is -958.4% off its 52-week high price of $13.23 and 18.4% above the 52-week low of $1.02. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.72 million shares traded. The 3-month trading volume is 645.66K shares.

The consensus among analysts is that D-Wave Quantum Inc. (QBTS) is a Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 5 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.12.

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D-Wave Quantum Inc. (NYSE:QBTS) trade information

Sporting -2.34% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the QBTS stock price touched $1.25 or saw a rise of 14.38%. Year-to-date, D-Wave Quantum Inc. shares have moved -13.19%, while the 5-day performance has seen it change -17.22%. Over the past 30 days, the shares of D-Wave Quantum Inc. (NYSE:QBTS) have changed -38.73%. Short interest in the company has seen 0.23 million shares shorted with days to cover at 1.95.

Wall Street analysts have a consensus price target for the stock at $7.00, which means that the shares’ value could jump 82.14% from current levels. The projected low price target is $4.00 while the price target rests at a high of $10.00. In that case, then, we find that the current price level is -700.0% off the targeted high while a plunge would see the stock gain -220.0% from current levels.

D-Wave Quantum Inc. (QBTS) estimates and forecasts

The company’s shares have lost -87.47% over the past 6 months, compared to 7.20% for the industry.

4 analysts offering their estimates for the company have set an average revenue estimate of $2 million for the current quarter. 4 have an estimated revenue figure of $2.73 million for the next quarter concluding in Dec 2022.

QBTS Dividends

D-Wave Quantum Inc. is expected to release its next earnings report in February this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

D-Wave Quantum Inc. (NYSE:QBTS)’s Major holders

Insiders own 0.10% of the company shares, while shares held by institutions stand at 102.06% with a share float percentage of 102.16%. Investors are also buoyed by the number of investors in a company, with D-Wave Quantum Inc. having a total of 85 institutions that hold shares in the company.

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