The trading price of D-Wave Quantum Inc (NYSE:QBTS) closed lower on Tuesday, May 27, and closing at $17.55, -6.65% lower than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $19.76 and a 52-week low of $0.75. Over the past month, the stock has gained 133.07% in value.
D-Wave Quantum Inc, whose market valuation is $5.13 billion at the time of this writing, is expected to release its quarterly earnings report in June. 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 100% 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 53.96% off the SMA20 and 91.59% off the SMA50. The RSI metric on the 14-day chart is currently showing 73.32, and weekly volatility stands at 13.64%. When measured over the past 30 days, the indicator reaches 12.42%. D-Wave Quantum Inc (NYSE:QBTS)’s beta value is currently sitting at 1.38, while the Average True Range indicator is currently displaying 1.78. With analysts defining $2-$4 as the low and high price targets, we arrive at a consensus price target of $2.5 for the trailing 12-month period. The current price is about 88.6% off the estimated low and 77.21% off the forecast high, based on this estimate. Investors will be thrilled if QBTS’s share price rises to $2.5, which is the median consensus price. At that level, QBTS’s share price would be 85.75% 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 -6.65% in the latest trading, and 1326.83% 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 74.00 million.
Currently, records show that 287.83 million of the company’s shares remain outstanding. The insiders hold 5.61% of outstanding shares, whereas institutions hold 31.09%. However, since the stock’s price has seen 108.93% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.
