D-Wave Quantum Inc. (NYSE: QBTS) stock jumped 8.91% on Wednesday to $1.10 against a previous-day closing price of $1.01. With 12.99 million shares changed hands, the volume of the stock remained heavier than its average volume of 2.18 million shares. During the session, the Computer Hardware company that operates in wider Technology sector, reached to the highest price of $1.2400 whereas the lowest price it dropped to was $0.8600. The 52-week range on QBTS shows that it touched its highest point at $13.23 and its lowest point at $0.40 during that stretch. It currently has a 1-year price target of $6.40.
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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 up-trending over the past week, with a rise of 96.43%, but this was up by 101.32% over a month. Three-month performance surged to 35.17% while six-month performance fell -55.28%. The stock lost -88.86% in the past year, while it has lost -23.61% so far this year. A look at the trailing 12-month EPS for QBTS yields -0.44 with Next year EPS estimates of -0.43. For the next quarter, that number is -0.13. This implies an EPS growth rate of -71.20% for this year and 4.20% for next year.
Float and Shares Shorts:
At present, 111.58 million QBTS shares are outstanding with a float of 73.10 million shares on hand for trading. On Apr 27, 2023, short shares totaled 1.34 million, which was 1.06% higher than short shares on Mar 30, 2023. In addition to Dr. Alan E. Baratz Ph.D. as the firm’s Pres, CEO & Director, Mr. John M. Markovich serves as its Chief Financial Officer.
Institutional Ownership:
Through their ownership of 101.73% of QBTS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 35.28% of QBTS, in contrast to 2.91% held by mutual funds. Shares owned by individuals account for 19.21%. As the largest shareholder in QBTS with 22.86% of the stake, The Public Sector Pension Investm holds 18,374,059 shares worth 18,374,059. A second-largest stockholder of QBTS, Goldman Sachs & Co. LLC, holds 7,939,286 shares, controlling over 9.88% of the firm’s shares. Lockheed Martin Investment Manage is the third largest shareholder in QBTS, holding 915,750 shares or 1.14% stake. With a 1.13% 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 0.61% of QBTS stock, is the second-largest Mutual Fund holder. It holds 493,000 shares valued at 0.25 million. Fidelity True North Fund holds 0.46% of the stake in QBTS, owning 370,000 shares worth 0.18 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, QBTS reported revenue of $1.37M and operating income of -$11.98M. The EBITDA in the recently reported quarter was -$11.45M and diluted EPS was -$0.12.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for QBTS since 0 analysts follow the stock currently. 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 $3.00 and a low target of $1.00, the average target price over the next 12 months is $1.90. Based on these targets, QBTS could surge 172.73% to reach the target high and fall by -9.09% to reach the target low. Reaching the average price target will result in a growth of 72.73% 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.
Summary of Insider Activity:
Insiders traded QBTS stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 629,210 shares were bought while 0 shares were sold. The number of buy transactions has increased to 27 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 4,392,077 while 20,063 shares were sold.
