D-Wave Quantum (NYSE:QBTS) Price Target Raised to $4.50 at B. Riley

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

A number of other research analysts also recently commented on the stock. Westpark Capital reaffirmed a “buy” rating and set a $3.00 price objective on shares of D-Wave Quantum in a research note on Friday, August 9th. Roth Mkm dropped their price objective on shares of 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. Benchmark dropped their price objective on shares of 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, Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $2.88.

D-Wave Quantum Trading Down 1.0 %

Shares of QBTS stock opened at $2.90 on Monday. The firm has a 50-day moving average price of $1.23 and a 200 day moving average price of $1.14. D-Wave Quantum has a twelve month low of $0.68 and a twelve month high of $3.77. The company has a market capitalization of $649.63 million, a price-to-earnings ratio of -6.90 and a beta of 0.96.

Institutional Trading of D-Wave Quantum

A number of institutional investors have recently modified their holdings of QBTS. Penserra Capital Management LLC grew its holdings 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 worth $4,409,000 after purchasing an additional 839,942 shares during the period. Geode Capital Management LLC boosted its holdings in D-Wave Quantum by 33.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after acquiring an additional 645,039 shares during the period. Marshall Wace LLP purchased a new position in D-Wave Quantum in the 2nd quarter worth approximately $265,000. Bank of New York Mellon Corp purchased a new position in D-Wave Quantum in the 2nd quarter worth approximately $251,000. Finally, Vanguard Group Inc. boosted its holdings in D-Wave Quantum by 17.9% in the 1st 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. Hedge funds and other institutional investors own 42.47% of the company’s stock.

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.