In the last trading session, 1.13 million D-Wave Quantum Inc (NYSE:QBTS) shares changed hands as the company’s beta touched 0.31. With the company’s per share price at $0.88 changed hands at $0.02 or 1.98% during last session, the market valuation stood at $99.34M. QBTS’s last price was a discount, traded about -263.64% off its 52-week high of $3.20. The share price had its 52-week low at $0.40, which suggests the last value was 54.55% up since then. When we look at D-Wave Quantum Inc’s average trading volume, we note the 10-day average is 1.71 million shares, with the 3-month average coming to 2.11 million.
Analysts gave the D-Wave Quantum Inc (QBTS) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended QBTS as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. D-Wave Quantum Inc’s EPS for the current quarter is expected to be -$0.13.
D-Wave Quantum Inc (NYSE:QBTS) trade information
Instantly QBTS was in green as seen at the end of in last trading. With action 20.59%, the performance over the past five days has been green. The jump to weekly highs of 0.9500 on Monday, 11/20/23 added 1.98% to the stock’s daily price. The company’s shares are showing year-to-date downside of -39.17%, with the 5-day performance at 20.59% in the green. However, in the 30-day time frame, D-Wave Quantum Inc (NYSE:QBTS) is 10.34% up. Looking at the short shares, we see there were 2.39 million shares sold at short interest cover period of 2.02 days.
The consensus price target for the stock as assigned by Wall Street analysts is $2.70, meaning bulls need an upside of 67.41% from its current market value. According to analyst projections, QBTS’s forecast low is $2.00 with $5.00 as the target high. To hit the forecast high, the stock’s price needs a -468.18% plunge from its current level, while the stock would need to soar -127.27% for it to hit the projected low.
D-Wave Quantum Inc (QBTS) estimates and forecasts
Data shows that the D-Wave Quantum Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -14.12% over the past 6 months, a -30.23% in annual growth rate that is considerably lower than the industry average of 18.30%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for D-Wave Quantum Inc will fall -18.20%, while the growth in revenue is estimated to hit 25.00% for the next quarter. Year-over-year growth is forecast to reach 49.70% up from the last financial year.
Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $4.75 million. 4 analysts are of the opinion that D-Wave Quantum Inc’s revenue for the quarter ending Mar 2024 will be $4.56 million. The company’s revenue for the corresponding quarters a year ago was $2.4 million and $2.03 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 98.30%. The estimates for the next quarter sales put growth at 124.60%.
The 2023 estimates are for D-Wave Quantum Inc earnings to decrease by -7.91%.
D-Wave Quantum Inc is expected to release its next quarterly earnings report in December.
D-Wave Quantum Inc (NYSE:QBTS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.19% of D-Wave Quantum Inc shares while 99.23% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 103.57%. There are 99.23% institutions holding the D-Wave Quantum Inc stock share, with Public Sector Pension Investment Board the top institutional holder. As of Jun 29, 2023, the company held 60.09% of the shares, roughly 59.43 million QBTS shares worth $124.21 million.
Goldman Sachs Group Inc holds the second largest percentage of outstanding shares, with 8.03% or 7.94 million shares worth $16.59 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were 180 Degree Capital Corp and Vanguard Extended Market Index Fund. With 0.77 million shares estimated at $1.61 million under it, the former controlled 0.78% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.60% of the shares, roughly 0.59 million shares worth around $1.23 million.