B. Riley Issues Positive Forecast for D-Wave Quantum (NYSE:QBTS) Stock Price

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

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

D-Wave Quantum Stock Up 1.5 %

D-Wave Quantum stock opened at $2.74 on Monday. The business has a 50-day simple moving average of $1.34 and a two-hundred day simple moving average of $1.18. D-Wave Quantum has a 52-week low of $0.68 and a 52-week high of $3.77. The company has a market cap of $613.80 million, a P/E ratio of -6.52 and a beta of 0.96.

Institutional Investors Weigh In On D-Wave Quantum

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 162,688 shares during the period. Virtu Financial LLC boosted its stake in D-Wave Quantum by 217.0% in the 1st quarter. Virtu Financial LLC now owns 124,689 shares of the company’s stock worth $254,000 after purchasing an additional 85,351 shares during the period. Penserra Capital Management LLC grew its holdings in 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 buying an additional 839,942 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $163,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of D-Wave Quantum in the second quarter worth $251,000. 42.47% of the stock is owned by 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.