D-Wave Quantum (NYSE:QBTS) Price Target Raised to $4.50

D-Wave Quantum (NYSE:QBTS) had its price objective hoisted by B. Riley from $3.75 to $4.50 in a report released on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on QBTS. Benchmark decreased their target price on D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating for the company in a report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Roth Mkm cut their target price on shares of D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Finally, Westpark Capital reaffirmed a “buy” rating and set a $3.00 price target on shares of D-Wave Quantum in a research report on Friday, August 9th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $2.88.

D-Wave Quantum Trading Up 1.5 %

Shares of D-Wave Quantum stock opened at $2.74 on Monday. The business’s fifty day moving average price is $1.30 and its 200 day moving average price is $1.16. D-Wave Quantum has a twelve month low of $0.68 and a twelve month high of $3.77. The stock has a market capitalization of $613.79 million, a P/E ratio of -6.52 and a beta of 0.96.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QBTS. Baader Bank Aktiengesellschaft acquired a new position in D-Wave Quantum in the 2nd quarter worth $28,000. Instrumental Wealth LLC acquired a new position in shares of D-Wave Quantum in the first quarter worth about $60,000. Thoroughbred Financial Services LLC purchased a new position in D-Wave Quantum in the second quarter valued at about $45,000. SG Americas Securities LLC acquired a new stake in D-Wave Quantum during the 3rd quarter valued at approximately $42,000. Finally, Bogart Wealth LLC purchased a new stake in D-Wave Quantum during the 3rd quarter worth approximately $49,000. 42.47% of the stock is currently owned by hedge funds and other institutional investors.

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.