This trade activity should not be overlooked: D-Wave Quantum Inc. (QBTS)

D-Wave Quantum Inc. (NYSE: QBTS) stock fell -1.54% on Monday to $1.28 against a previous-day closing price of $1.30. With 1.27 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.63 million shares. During the session, the Computer Hardware company that operates in wider Technology sector, reached to the highest price of $1.3300 whereas the lowest price it dropped to was $1.1900. The 52-week range on QBTS shows that it touched its highest point at $13.23 and its lowest point at $1.02 during that stretch. It currently has a 1-year price target of $10.20.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of QBTS was down-trending over the past week, with a drop of -23.81%, but this was down by -31.55% over a month. Three-month performance dropped to -75.98% while six-month performance fell -87.20%. The stock lost -86.95% in the past year, while it has lost -11.11% so far this year. For the next quarter, that number is -0.13. This implies an EPS growth rate of -214.80% for this year and -29.50% for next year.

Float and Shares Shorts:

At present, 116.26 million QBTS shares are outstanding with a float of 60.39 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.23 million, which was 0.21% higher than short shares on Sep 14, 2022. In addition to Dr. Alan E. Baratz Ph.D. as the firm’s CEO & Director, Mr. John M. Markovich serves as its Chief Financial Officer.


Institutional Ownership:

Through their ownership of 102.06% of QBTS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 62.41% of QBTS, in contrast to 5.98% held by mutual funds. Shares owned by individuals account for 1.75%. As the largest shareholder in QBTS with 53.84% of the stake, The Public Sector Pension Investm holds 59,431,311 shares worth 59,431,311. A second-largest stockholder of QBTS, Goldman Sachs & Co. LLC, holds 7,939,809 shares, controlling over 7.19% of the firm’s shares. Lockheed Martin Investment Manage is the third largest shareholder in QBTS, holding 915,750 shares or 0.83% stake. With a 0.83% stake in QBTS, the 180 Degree Capital Corp is the largest stakeholder. A total of 911,938 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 0.45% of QBTS stock, is the second-largest Mutual Fund holder. It holds 493,000 shares valued at 0.71 million. Schwab US Small Cap ETF holds 0.14% of the stake in QBTS, owning 154,239 shares worth 0.22 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for QBTS since 5 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With QBTS analysts setting a high price target of $10.00 and a low target of $6.00, the average target price over the next 12 months is $8.00. Based on these targets, QBTS could surge 681.25% to reach the target high and rise by 368.75% to reach the target low. Reaching the average price target will result in a growth of 525.0% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. Analysts have provided yearly estimates in a range of -$0.42 being high and -$0.51 being low. For QBTS, this leads to a yearly average estimate of -$0.45. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. D-Wave Quantum Inc. surprised analysts by $0.01 when it reported -$0.11 EPS against a consensus estimate of -$0.13. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.13 and the low estimate is -$0.14. The average estimate for the next quarter is thus -$0.13.

Summary of Insider Activity:

Insiders traded QBTS stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 3,742,174 shares were bought while 0 shares were sold. The number of buy transactions has increased to 8 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 3,742,174 while 0 shares were sold.

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