D-Wave Quantum (NYSE:QBTS) Stock Price Expected to Rise, B. Riley Analyst Says

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

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

D-Wave Quantum Stock Down 1.0 %

NYSE QBTS opened at $2.90 on Monday. The stock has a market cap of $649.63 million, a PE ratio of -6.90 and a beta of 0.96. The business has a 50 day moving average price of $1.23 and a two-hundred day moving average price of $1.14. D-Wave Quantum has a fifty-two week low of $0.68 and a fifty-two week high of $3.77.

Institutional Investors Weigh In On D-Wave Quantum

Several institutional investors and hedge funds have recently made changes to their positions in QBTS. Penserra Capital Management LLC raised its position in shares of D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after acquiring an additional 839,942 shares in the last quarter. Geode Capital Management LLC increased its position in D-Wave Quantum by 33.8% in the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after buying an additional 645,039 shares during the period. Marshall Wace LLP acquired a new stake in D-Wave Quantum in the second quarter worth $265,000. Bank of New York Mellon Corp acquired a new stake in D-Wave Quantum in the second quarter worth $251,000. Finally, Vanguard Group Inc. increased its position in D-Wave Quantum by 17.9% in the first quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock worth $2,183,000 after buying an additional 162,688 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.

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.