B. Riley Forecasts Strong Price Appreciation for D-Wave Quantum (NYSE:QBTS) Stock

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

QBTS has been the topic of a number of other research reports. Westpark Capital reaffirmed a “buy” rating and set a $3.00 price target on shares of D-Wave Quantum in a research note on Friday, August 9th. Benchmark lowered their price target on shares of D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating for the company in a report on Monday, August 12th. Roth Mkm reduced their price objective on 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $2.88.

D-Wave Quantum Price Performance

Shares of QBTS opened at $2.74 on Monday. The stock has a market capitalization of $613.80 million, a price-to-earnings ratio of -6.52 and a beta of 0.96. D-Wave Quantum has a 1 year low of $0.68 and a 1 year high of $3.77. The business’s 50 day simple moving average is $1.34 and its 200-day simple moving average is $1.18.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Baader Bank Aktiengesellschaft bought a new stake in shares of D-Wave Quantum during the 2nd quarter worth approximately $28,000. SG Americas Securities LLC purchased a new stake in D-Wave Quantum in the third quarter worth $42,000. Thoroughbred Financial Services LLC bought a new stake in shares of D-Wave Quantum during the second quarter worth $45,000. Bogart Wealth LLC bought a new stake in shares of D-Wave Quantum during the third quarter worth $49,000. Finally, Instrumental Wealth LLC purchased a new stake in shares of D-Wave Quantum during the first quarter valued at $60,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

About D-Wave Quantum

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.