D-Wave Quantum Inc (NYSE:QBTS) shares, rose in value, with the stock price up by 7.07% to the previous day’s close as strong demand from buyers drove the stock to $1.97.
Actively observing the price movement in the last trading, the stock closed the session at $1.84. The value of beta (5-year monthly) was 0.87. Referring to stock’s 52-week performance, its high was $3.20, and the low was $0.40. On the whole, QBTS has fluctuated by 37.76% over the past month.
As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.1, which is expected to increase to -$0.09 for fiscal year -$0.47 and then to about -$0.46 by fiscal year 2025. Data indicates that the EPS growth is expected to be 21.70% in 2025, while the next year’s EPS growth is forecast to be 2.10%.
Analysts have estimated the company’s revenue for the quarter at $4.15 million, with a low estimate of $3.5 million and a high estimate of $4.9 million. According to the average forecast, sales growth in current quarter could jump up 104.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $22.15 million, representing an increase of 152.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that QBTS’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of QBTS currently trading nearly -0.10% and 24.27% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.59, while the 7-day volatility ratio is showing 11.02% which for the 30-day chart, stands at 13.53%. Furthermore, D-Wave Quantum Inc (QBTS)’s beta value is 0.90, and its average true range (ATR) is 0.25.
A comparison of D-Wave Quantum Inc (QBTS) with its peers suggests the former has fared considerably weaker in the market. QBTS showed an intraday change of 7.07% in last session, and over the past year, it grew by 196.64%%.
Data on historical trading for D-Wave Quantum Inc (NYSE:QBTS) indicates that the trading volumes over the past 10 days have averaged 4.4 million and over the past 3 months, they’ve averaged 4.34 million. According to company’s latest data on outstanding shares, there are 161.11 million shares outstanding.
Nearly 13.78% of D-Wave Quantum Inc’s shares belong to company insiders and institutional investors own 24.44% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.48 million shares as on Mar 15, 2024, resulting in a short ratio of 0.8. According to the data, the short interest in D-Wave Quantum Inc (QBTS) stood at 3.43% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 6.3 million. The stock has risen by 123.84% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the QBTS stock heading into the next quarter.
