Does D-Wave Quantum Inc (QBTS) offer a good opportunity for investors?

D-Wave Quantum Inc (NYSE: QBTS) stock jumped 1.98% on Monday to $0.88 against a previous-day closing price of $0.86. With 1.13 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.11 million shares. During the session, the Computer Hardware company that operates in wider Technology sector, reached to the highest price of $0.9500 whereas the lowest price it dropped to was $0.8640. The 52-week range on QBTS shows that it touched its highest point at $3.20 and its lowest point at $0.40 during that stretch. It currently has a 1-year price target of $2.70. Beta for the stock currently stands at 0.31.

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 20.59%, but this was up by 10.34% over a month. Three-month performance dropped to -29.92% while six-month performance fell -14.12%. The stock lost -65.65% in the past year, while it has lost -39.17% so far this year. A look at the trailing 12-month EPS for QBTS yields -0.64 with Next year EPS estimates of -0.38. For the next quarter, that number is -0.08. This implies an EPS growth rate of -7.91% for this year and 18.97% for next year.

Float and Shares Shorts:

At present, 113.34 million QBTS shares are outstanding with a float of 99.32 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.39 million, which was 1.64% higher than short shares on Sep 28, 2023. In addition to Dr. Alan E. Baratz Ph.D. as the firm’s President, CEO & Director, Mr. John M. Markovich serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 99.23% of QBTS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 31.87% of QBTS, in contrast to 2.64% held by mutual funds. Shares owned by individuals account for 16.70%. As the largest shareholder in QBTS with 18.58% 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 7,939,417 shares, controlling over 8.03% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in QBTS, holding 1,470,686 shares or 1.49% stake. With a 0.79% stake in QBTS, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 779,124 shares are owned by the mutual fund manager. The 180 Degree Capital Corp, which owns about 0.78% of QBTS stock, is the second-largest Mutual Fund holder. It holds 770,000 shares valued at 0.56 million. Fidelity Extended Market Index Fu holds 0.36% of the stake in QBTS, owning 355,237 shares worth 0.26 million.

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 $5.00 and a low target of $2.00, the average target price over the next 12 months is $2.70. Based on these targets, QBTS could surge 468.18% to reach the target high and rise by 127.27% to reach the target low. Reaching the average price target will result in a growth of 206.82% from current levels.

Summary of Insider Activity:

Insiders traded QBTS stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 632,461 shares were sold. The number of buy transactions has increased to 9 while that of sell transactions has risen to 4 over the past year. The total number of shares bought during that period was 1,833,958 while 647,461 shares were sold.