D-Wave Quantum Inc (NYSE:QBTS) shares, rose in value, with the stock price down by -2.63% to the previous day’s close as strong demand from buyers drove the stock to $1.48.
Actively observing the price movement in the last trading, the stock closed the session at $1.52. 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 -24.10% over the past month.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 15.43M, with a low estimate of 2.8M and a high estimate of 3.5M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 3.07M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that QBTS’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of QBTS currently trading nearly -16.67% and -19.84% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.33, while the 7-day volatility ratio is showing 11.53% which for the 30-day chart, stands at 10.06%. Furthermore, D-Wave Quantum Inc (QBTS)’s beta value is 0.99, and its average true range (ATR) is 0.19.
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 -2.63% in last session, and over the past year, it grew by 170.86%%.
Data on historical trading for D-Wave Quantum Inc (NYSE:QBTS) indicates that the trading volumes over the past 3 months, they’ve averaged 4.78 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 24.40% of the company’s shares. The stock has risen by 68.16% 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.
