The trading price of D-Wave Quantum Inc (NYSE:QBTS) closed higher on Friday, December 06, and closing at $5.06, 34.22% higher than its previous close.
Traders who pay close attention to intraday price movement should know that it fluctuated between $3.86 and $5.22. In examining the 52-week price action we see that the stock hit a 52-week high of $4.17 and a 52-week low of $0.68. Over the past month, the stock has gained 347.79% in value.
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D-Wave Quantum Inc, whose market valuation is $1.52 billion at the time of this writing, is expected to release its quarterly earnings report in January. Investors’ optimism about the company’s current quarter earnings report is understandable.
On the technical side, indicators suggest QBTS has a 100% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Buy, while an average of long term indicators suggests that the stock is currently 50% Buy.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned QBTS a recommendation rating is 4. Out of them, 0 rate it a Hold, while 4 recommend Buy, whereas 0 assign an Overweight rating. 0 analyst(s) have tagged D-Wave Quantum Inc (QBTS) as Underweight, while 0 advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that QBTS’s price is currently 108.83% off the SMA20 and 215.59% off the SMA50. The RSI metric on the 14-day chart is currently showing 85.40, and weekly volatility stands at 27.19%. When measured over the past 30 days, the indicator reaches 23.70%. D-Wave Quantum Inc (NYSE:QBTS)’s beta value is currently sitting at 1.77, while the Average True Range indicator is currently displaying 0.51. With analysts defining $2-$2 as the low and high price targets, we arrive at a consensus price target of $2 for the trailing 12-month period. The current price is about 60.47% off the estimated low and 60.47% off the forecast high, based on this estimate. Investors will be thrilled if QBTS’s share price rises to $2, which is the median consensus price. At that level, QBTS’s share price would be 60.47% above current price.
To see how D-Wave Quantum Inc stock has been performing in comparison to its peers in the industry, here are the numbers: QBTS stock’s performance was 34.22% in the latest trading, and 391.26% in the past year.
An evaluation of the daily trading volume of D-Wave Quantum Inc (NYSE:QBTS) indicates that the 3-month average is 13.02 million. However, this figure has increased over the past 10 days to an average of 50.83.
Currently, records show that 164.20 million of the company’s shares remain outstanding. The insiders hold 28.93% of outstanding shares, whereas institutions hold 26.67%. The stats also highlight that short interest as of 2024-10-31, stood at 16.1 million shares, resulting in a short ratio of 2.59 at that time. From this, we can conclude that short interest is 1236.00 of the company’s total outstanding shares. It is noteworthy that short shares in October were up slightly from the previous month’s figure, which was 15.79 million. However, since the stock’s price has seen 474.93% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
