D-Wave Quantum Inc (NYSE:QBTS) price on Thursday, June 12, fall -3.93% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $15.88.
A look at the stock’s price movement, the close in the last trading session was $16.53. Turning to its 52-week performance, $19.76 and $0.75 were the 52-week high and 52-week low respectively. Overall, QBTS moved 48.00% over the past month.
D-Wave Quantum Inc’s market cap currently stands at around $4.96 billion, with investors looking forward to this quarter’s earnings report slated for in July.
Turning to the stock’s technical picture we see that short term indicators suggest on average that QBTS is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
4 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 4 recommend QBTS as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
QBTS’s current price about -3.43% and 42.52% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.60, while 7-day volatility ratio is 1.43% and 9.08% in the 30-day chart. Further, D-Wave Quantum Inc (QBTS) has a beta value of 1.47, and an average true range (ATR) of 1.65. Analysts have given the company’s stock an average 52-week price target of $2.5, forecast between a low of $2 and high of $4. Looking at the price targets, the low is 87.41% off current price level while to achieve the yearly target high, price needs to move 74.81%. Nonetheless, investors will most likely welcome a 84.26% jump to $2.5 which is the analysts’ median price.
If we refocus on D-Wave Quantum Inc (NYSE:QBTS), historical trading data shows that trading volumes averaged 78.85 million over the past 3 months. The company’s latest data on shares outstanding shows there are 310.27 million shares.
The 5.46% of D-Wave Quantum Inc’s shares are in the hands of company insiders while institutional holders own 29.31% of the company’s shares. Current price change has pushed the stock 89.05% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the QBTS stock continues to rise going into the next quarter.
