D-Wave Quantum (NYSE:QBTS) Sees Strong Trading Volume – Here’s Why

Shares of D-Wave Quantum Inc. (NYSE:QBTS) saw unusually-strong trading volume on Monday . Approximately 33,554,500 shares were traded during mid-day trading, an increase of 392% from the previous session’s volume of 6,815,465 shares.The stock last traded at $4.99 and had previously closed at $5.06.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on QBTS shares. Roth Mkm lowered their price target on shares of D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating on the stock in a report on Tuesday, August 13th. B. Riley boosted their price target on shares of D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum presently has a consensus rating of “Buy” and a consensus price target of $2.88.

D-Wave Quantum Trading Up 0.6 %

The company’s fifty day moving average price is $1.71 and its two-hundred day moving average price is $1.29. The firm has a market cap of $1.05 billion, a P/E ratio of -11.14 and a beta of 1.77.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QBTS. Baader Bank Aktiengesellschaft acquired a new position in D-Wave Quantum during the 2nd quarter worth about $28,000. SG Americas Securities LLC acquired a new position in D-Wave Quantum during the 3rd quarter worth about $42,000. Thoroughbred Financial Services LLC acquired a new position in D-Wave Quantum during the 2nd quarter worth about $45,000. Bogart Wealth LLC acquired a new position in D-Wave Quantum during the 3rd quarter worth about $49,000. Finally, Instrumental Wealth LLC lifted its position in D-Wave Quantum by 85.9% during the 2nd quarter. Instrumental Wealth LLC now owns 54,240 shares of the company’s stock worth $62,000 after buying an additional 25,067 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

D-Wave Quantum Company Profile

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.