As of Friday close, D-Wave Quantum Inc.’s (NYSE:QBTS) stock was down -$0.13, moving down -6.28 percent to $1.94. The average number of shares traded per day over the past five days has been 16,168,439 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.16 fall in that time frame. In the last twenty days, the average volume was 9,293,785, while in the previous 50 days, it was 8,369,114.
Since last month, QBTS stock retreated -2.02%. Shares of the company fell to $1.75 on 07/10/23, the lowest level in the past month. Since the beginning of this year, QBTS’s stock price has risen by 34.72% or $0.50, and marked a new high 6 times. However, the stock has declined by -85.34% since its 52-week high.
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QBTS stock investors should be aware that D-Wave Quantum Inc. (QBTS) stock had its last reported insider trading activity 51 days ago on Jun 15. Michael Emil, the Director of the company, disposed of 29,021 shares for $1.86 on Jun 15. It resulted in a $53,892 divestment by the insider. Brydon Victoria sold 15,000 shares at an average price of $2.39 on Jun 09. The insider now owns 332,800 shares following the transaction. On Nov 17, Director WEST STEVEN M bought 25,000 shares at $2.55 apiece. The transaction was valued at $63,750.
Financial Health
In the three months ended March 30, D-Wave Quantum Inc.’s quick ratio stood at 0.70, while its current ratio was 0.80, showing that the company is not able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 50.30% percent. Based on annual data, QBTS earned $4.25 million in gross profit and brought in $7.17 million in revenue.
In D-Wave Quantum Inc.’s quarter-end financial report for March 30, it reported total debt of $8.26 million. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. QBTS’s revenue rose 100.0% to $5.48 million during the quarter, while net income inched up to $1.58 million. While analysts expected D-Wave Quantum Inc. to report -$0.12 quarterly earnings, the actual figure was -$0.2 per share, beating the consensus estimate by -66.70%. During the quarter, the company generated -$24.14 million in EBITDA. The liabilities of D-Wave Quantum Inc. were 34.77 million at the end of its most recent quarter ended March 30, and its total debt was $17.7 million. The value of shareholders’ equity is $80.6 million.
Technical Picture
This quick technical analysis looks at D-Wave Quantum Inc.’s (QBTS) price momentum. With a historical volatility rate of 189.44%, the RSI 9-day stood at 42.13% on 04 August.
With respect to its five-day moving average, the current D-Wave Quantum Inc. price is down by -7.62% percent or -$0.16. At present, QBTS shares trade +4.30% above its 20-day simple moving average and +220.66% percent above its 100-day simple moving average. However, the stock is currently trading approximately +92.08% above its SMA50 and -68.61% below its SMA200.
Stochastic coefficient K was 16.92% and Stochastic coefficient D was 29.77%, while ATR was 0.38. Given the Stochastic reading of 5.97% for the 14-day period, the RSI (14) reading has been calculated as 45.82%. As of today, the MACD Oscillator reading stands at -0.07, while the 14-day reading stands at -0.26.
Analyst Ratings
Piper Sandler launched its rating on D-Wave Quantum Inc. (NYSE: QBTS) to an Overweight in a note to investors on October 19, 2022. D-Wave Quantum Inc. (QBTS) has been rated Buy by analysts. According to 0 brokerage firms, QBTS is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate D-Wave Quantum Inc. stock as buy, with 5 recommending it as overweight.
With a median target price of $4.00, the current consensus forecast for the stock is $1.00 – $6.00. Based on these forecasts, analysts predict D-Wave Quantum Inc. (QBTS) will achieve an average price target of $3.50.
