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D-Wave Quantum Inc. (NYSE: QBTS) Fall -55.28% In Six Months, Here’s What We Should Expect Now

During the last session, D-Wave Quantum Inc. (NYSE:QBTS)’s traded shares were 11.84 million. At the end of the trading day, the stock’s price was $1.10, reflecting an intraday gain of 8.91% or $0.09. The 52-week high for the QBTS share is $13.23, that puts it down -1102.73 from that peak though still a striking 63.64% gain since the share price plummeted to a 52-week low of $0.40. The company’s market capitalization is $176.36M, and the average intraday trading volume over the past 10 days was 8.14 million shares, and the average trade volume was 1.99 million shares over the past three months.

D-Wave Quantum Inc. (QBTS) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. QBTS has a Sell rating from 0 analyst(s) out of 5 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 5 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.13.

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

D-Wave Quantum Inc. (QBTS) registered a 8.91% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 8.91% in intraday trading to $1.10 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 96.43%, and it has moved by 101.32% in 30 days. Based on these gigs, the overall price performance for the year is -88.86%. The short interest in D-Wave Quantum Inc. (NYSE:QBTS) is 1.34 million shares and it means that shorts have 1.03 day(s) to cover.

The consensus price target of analysts on Wall Street is $1.90, which implies an increase of 42.11% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $1.00 and $3.00 respectively. As a result, QBTS is trading at a discount of -172.73% off the target high and 9.09% off the low.

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

Statistics show that D-Wave Quantum Inc. has underperformed its competitors in share price, compared to the industry in which it operates. D-Wave Quantum Inc. (QBTS) shares have gone down -55.28% during the last six months, with a year-to-date growth rate less than the industry average at -25.58% against 16.10. In the rating firms’ projections, revenue will increase 69.20% compared to the previous financial year.

Revenue for the current quarter is expected to be $2.29 million as predicted by 3 analyst(s). Meanwhile, a consensus of 3 analyst(s) estimates revenue growth to $3.32 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.37 million and $1.69 million respectively. In this case, analysts expect current quarter sales to grow by 67.00% and then jump by 96.00% in the coming quarter.

While earnings are projected to return -71.20% in 2023.

QBTS Dividends

D-Wave Quantum Inc. is due to release its next quarterly earnings on May 12. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

D-Wave Quantum Inc. insiders own 0.56% of total outstanding shares while institutional holders control 101.73%, with the float percentage being 102.30%. Public Sector Pension Investment Board is the largest shareholder of the company, while 30 institutions own stock in it. As of Mar 30, 2023, the company held over 59.43 million shares (or 73.89% of all shares), a total value of $39.47 million in shares.

The next largest institutional holding, with 7.94 million shares, is of Goldman Sachs Group Inc’s that is approximately 9.87% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $5.27 million.

Also, the Mutual Funds coming in first place with the largest holdings of D-Wave Quantum Inc. (QBTS) shares are 180 Degree Capital Corp and Vanguard Extended Market Index Fund. Data provided on Dec 30, 2022 indicates that 180 Degree Capital Corp owns about 0.91 million shares. This amounts to just over 1.13 percent of the company’s overall shares, with a $1.31 million market value. The same data shows that the other fund manager holds slightly less at 0.49 million, or about 0.61% of the stock, which is worth about $0.71 million.

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