In the last trading session, 3.34 million D-Wave Quantum Inc (NYSE:QBTS) shares changed hands as the company’s beta touched 0.87. With the company’s per share price at $1.94 changed hands at $0.04 or 2.11% during last session, the market valuation stood at $220.00M. QBTS’s last price was a discount, traded about -64.95% 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 79.38% up since then. When we look at D-Wave Quantum Inc’s average trading volume, we note the 10-day average is 5.55 million shares, with the 3-month average coming to 4.06 million.
D-Wave Quantum Inc (NYSE:QBTS) trade information
Instantly QBTS was in green as seen at the end of in last trading. With action -6.73%, the performance over the past five days has been red. The jump to weekly highs of 2.4200 added 2.11% to the stock’s daily price. The company’s shares are showing year-to-date upside of 120.43%, with the 5-day performance at -6.73% in the red. However, in the 30-day time frame, D-Wave Quantum Inc (NYSE:QBTS) is 2.65% up. Looking at the short shares, we see there were 9.19 million shares sold at short interest cover period of 1.71 days.
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 103.29% over the past 6 months, a -30.23% in annual growth rate that is considerably lower than the industry average of 19.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for D-Wave Quantum Inc will rise 9.10%, while the growth in revenue is estimated to hit 40.00% for the next quarter. Year-over-year growth is forecast to reach 47.90% 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 $4.73 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 97.50%. The estimates for the next quarter sales put growth at 124.60%.
The 2024 estimates are for D-Wave Quantum Inc earnings to decrease by -17.67%.
QBTS Dividends
D-Wave Quantum Inc is expected to release its next quarterly earnings report on May 12.
D-Wave Quantum Inc (NYSE:QBTS)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 5.39% of D-Wave Quantum Inc shares while 97.37% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 102.92%. There are 97.37% 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.
