The stock of D-Wave Quantum Inc. (NYSE:QBTS) increased by $0.14 on Monday to finish at $1.59, up 9.66 percent. The last five days have seen an average of 6,592,120 shares of common stock traded. 6 times new highs were reached in the current year, with a gain of $0.1500. The average number of shares traded over the last 20 days was 9,515,330, while the average volume over the last 50 days totaled 7,572,732.
QBTS stock dropped -27.73% since last month. On 08/11/23, the company’s shares reached a one-month low of $1.4000. The stock touched a high of $11.60 on 07/18/23, after rallying from a low of $0.40 in 52 weeks. The price of QBTS stock has risen by 10.42% or $0.1500 this year, reaching a new high 6 times. Still, the stock price is down -86.29% from the 52-week high.
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Insider Transactions
QBTS stock investors should be aware that D-Wave Quantum Inc. (QBTS) stock had its last reported insider trading activity 61 days ago on Jun 15. On Jun 15, Director Michael Emil sold 29,021 shares at $1.86 each. This transaction resulted in the insider making $53,892. On Jun 09, Brydon Victoria sold 15,000 shares at a price of US$2.39. After the transaction, the insider now owns 332,800 shares. Director WEST STEVEN M had earlier bought 25,000 shares on Nov 17 for $2.55 a share. The transaction was completed for $63,750.
Financial Health
For the three months ended June 29, D-Wave Quantum Inc.’s quick ratio was 0.70, while its current ratio was 0.80, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 50.30% percent. Based on annual data, it had gross profit of $4.25 million and revenue of $7.17 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. QBTS’s return on assets (ROA) during the last 12 months has been -166.60%. In the meantime, the return on equity (ROE) for the last 12 months was 90.60%.
Earnings Surprise
According to D-Wave Quantum Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.71 million, while revenues rose by 100.0% to $1.58 million. It was predicted that D-Wave Quantum Inc.’s quarterly earnings would be -$0.2, but it ended up being -$0.14, beating the consensus by -42.90%. EBITDA was -$20.43 million for the quarter. At the end of D-Wave Quantum Inc.’s most recent quarter ended June 29, its liabilities totaled 52.8 million, while its total debt was $33.01 million. Equity owned by shareholders amounts to $98.9 million.
Technical Picture
Here’s a quick look at D-Wave Quantum Inc.’s (QBTS) price momentum from a technical perspective. As of 14 August, the RSI 9-day stood at 37.66%, suggesting the stock is Neutral, with a 102.99% historical volatility rate.
The stochastic %K and %D were 6.35% and 6.80% respectively, while the average true range (ATR) was 0.3280. Based on the 14-day stochastic reading of 14.43%, the RSI (14) reading is 41.41%. On the 9-day MACD Oscillator, the stock is at -0.2800, and the 14-day reading is at -0.4219.
Analyst Ratings
In its analyst report released on October 19, 2022, Piper Sandler began covering D-Wave Quantum Inc. (NYSE: QBTS). The stock was rated as an Overweight by the brokerage firm. Analysts have assigned D-Wave Quantum Inc. (QBTS) an Buy rating. QBTS is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 5 others recommend it as a buy.
What is QBTS’s price target for the next 12 months?
The current consensus forecast for the stock is between $3.00 and $6.00, with a median target price of $4.00. In analyzing these forecasts, the average price target given by analysts for D-Wave Quantum Inc. (QBTS) is $4.20.
