D-Wave Quantum Inc (NYSE: QBTS)’s stock price has gone rise by 4.64 in comparison to its previous close of 1.40, however, the company has experienced a 1.74% increase in its stock price over the last five trading days. InvestorPlace reported 2024-05-03 that While some quantum computing stocks present promising opportunities, there are also certain stocks that investors should approach with caution. Not all companies are in a position to capitalize on the technology’s potential.
Is It Worth Investing in D-Wave Quantum Inc (NYSE: QBTS) Right Now?
QBTS has 36-month beta value of 1.04. Analysts have mixed views on the stock, with 0 analysts rating it as a “buy,” 0 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for QBTS is 100.70M, and currently, short sellers hold a 7.90% ratio of that float. The average trading volume of QBTS on May 06, 2024 was 4.93M shares.
QBTS’s Market Performance
The stock of D-Wave Quantum Inc (QBTS) has seen a 1.74% increase in the past week, with a -22.07% drop in the past month, and a 65.93% gain in the past quarter. The volatility ratio for the week is 9.78%, and the volatility levels for the past 30 days are at 9.71% for QBTS. The simple moving average for the past 20 days is -7.54% for QBTS’s stock, with a 14.36% simple moving average for the past 200 days.
Analysts’ Opinion of QBTS
Many brokerage firms have already submitted their reports for QBTS stocks, with Needham repeating the rating for QBTS by listing it as a “Buy.” The predicted price for QBTS in the upcoming period, according to Needham is $2.50 based on the research report published on April 08, 2024 of the current year 2024.
Piper Sandler, on the other hand, stated in their research note that they expect to see QBTS reach a price target of $12. The rating they have provided for QBTS stocks is “Overweight” according to the report published on October 19th, 2022.
ROTH Capital gave a rating of “Buy” to QBTS, setting the target price at $20 in the report published on August 30th of the previous year.
QBTS Trading at -18.19% from the 50-Day Moving Average
After a stumble in the market that brought QBTS to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -54.22% of loss for the given period.
Volatility was left at 9.71%, however, over the last 30 days, the volatility rate increased by 9.78%, as shares sank -19.93% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.25% lower at present.
During the last 5 trading sessions, QBTS rose by +2.87%, which changed the moving average for the period of 200-days by -46.13% in comparison to the 20-day moving average, which settled at $1.5661. In addition, D-Wave Quantum Inc saw 66.46% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at QBTS starting from Nguyen Diane, who sale 22,855 shares at the price of $1.00 back on Oct 16 ’23. After this action, Nguyen Diane now owns 254,643 shares of D-Wave Quantum Inc, valued at $22,855 using the latest closing price.
Michael Emil, the Director of D-Wave Quantum Inc, sale 29,021 shares at $1.86 during a trade that took place back on Jun 15 ’23, which means that Michael Emil is holding 36,353 shares at $53,892 based on the most recent closing price.
Stock Fundamentals for QBTS
Current profitability levels for the company are sitting at:
- -9.2 for the present operating margin
- 0.53 for the gross margin
The net margin for D-Wave Quantum Inc stands at -9.45. The total capital return value is set at -1.67. Equity return is now at value -49.68, with -191.48 for asset returns.
Based on D-Wave Quantum Inc (QBTS), the company’s capital structure generated 1.6 points at debt to capital in total, while cash flow to debt ratio is standing at -0.92. The debt to equity ratio resting at -2.68. The interest coverage ratio of the stock is -2176.92.
Currently, EBITDA for the company is -78.7 million with net debt to EBITDA at -0.4. When we switch over and look at the enterprise to sales, we see a ratio of 22.78. The receivables turnover for the company is 5.04for trailing twelve months and the total asset turnover is 0.15. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.18.
Conclusion
To put it simply, D-Wave Quantum Inc (QBTS) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
