Geode Capital Management LLC has recently announced that it has increased stake in D-Wave Quantum Inc. (NYSE:QBTS) by 52.14%. After grabbing 0.33 million shares, the institutional investor is now in possession of 0.11 million shares of the Technology Company. The new investment brought the stake of investor firm to 0.41% having worth around $0.16 million. Moreover, Bridgeway Capital Management LLC increased its share by 0.2 million to have a control over 0.2 million shares. And B. Riley Wealth Advisors, Inc. raised its holdings to 0.11 million shares by acquiring 0.15 million shares or 0.19% of the stake.
D-Wave Quantum Inc. (QBTS) concluded trading on 05/24/23 at a closing price of $1.10, with 11.84 million shares of worth about $13.02 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -55.28% during that period and on Wednesday the price saw a gain of about 8.91%. Currently the company’s common shares owned by public are about 111.58M shares, out of which, 73.10M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the QBTS stock and their offered price forecasts bring an average price target of $1.90. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $3.00 and could fall to a lowest price of $1.00. The stock’s current price level is 82.81% above of average price target set by the analysts, while a rise to estimated low would result in loss of -10.0% for the stock. However, touching the estimated high of $3.00 would mean a gain of 63.33% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 39 times over the past 12 months. They bought 4,392,077 shares in 27 of the transactions. In 12 selling transactions, insiders dumped 20,063 shares.
180 Degree Capital Corp, Vanguard Extended Market Index Fu, and Fidelity True North Fund are the top 3 mutual funds which are holding stakes in D-Wave Quantum Inc. 180 Degree Capital Corp is currently holding 0.91 million shares of worth totaling $0.45 million. The company recently came buying 0.0 shares which brought its stake up to 1.13% of the company’s outstanding shares. Fidelity True North Fund, after buying 0.37 million shares, have now control over 0.46% of the stake in the company. It holds 0.37 million shares of worth $0.18 million.
D-Wave Quantum Inc. (NYSE: QBTS) started trading at $0.875, below -$0.14 from concluding price of the previous day. Stock saw a price change of 96.43% in past 5 days and over the past one month there was a price change of 101.32%. Year-to-date (YTD), QBTS shares are showing a performance of -23.61% which decreased to -88.86% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.40 but also hit the highest price of $13.23 during that period. The average intraday trading volume for D-Wave Quantum Inc. shares is 1.99 million. The stock is currently trading 107.52% above its 20-day simple moving average (SMA20), while that difference is up 93.62% for SMA50 and it goes to -64.20% lower than SMA200.
Geode Capital Management LLC acquired 0.33 million shares of D-Wave Quantum Inc. having value of about $0.16 million. Data submitted at the U.S SEC by Geode Capital Management LLC revealed that the firm now holds 0.11 million shares in the company valued at close to $124897.3, or have control over 52.14% stake in the company. D-Wave Quantum Inc. (NYSE: QBTS) currently have 111.58M outstanding shares and institutions hold larger chunk of about 62.80% of that. Holding of mutual funds in the company is about 2.91% while other institutional holders and individual stake holders have control over 35.28% and 19.21% of the stake respectively.
The stock has a current market capitalization of $176.36M. It has posted earnings per share of -$0.44 in the same period. It has Quick Ratio of 0.70. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for QBTS, volatility over the week remained 46.00% while standing at 19.71% over the month.
Analysts are in expectations that D-Wave Quantum Inc. (QBTS) stock would likely to be making an EPS of $Powerbridge Technologies Co., L in the current quarter, while forecast for next quarter EPS is $0.06 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $BTS which is $QTS at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $QLTS in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -71.20% while it is estimated to increase by 4.20% in next year.
Analysts at 5 brokerage firms have issued recommendations for the D-Wave Quantum Inc. (QBTS)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 5 Wall Street analysts, 5 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
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