D-Wave Quantum (NYSE:QBTS) Price Target Cut to $2.00

D-Wave Quantum (NYSE:QBTS) had its price target trimmed by Benchmark from $4.00 to $2.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also commented on QBTS. Roth Mkm reiterated a buy rating and set a $5.00 price target on shares of D-Wave Quantum in a report on Thursday, September 21st. Piper Sandler reduced their target price on D-Wave Quantum from $3.00 to $2.00 and set an overweight rating for the company in a research report on Friday, November 10th.

D-Wave Quantum Stock Down 6.3 %

Shares of QBTS stock opened at $0.86 on Tuesday. D-Wave Quantum has a 12 month low of $0.40 and a 12 month high of $3.20. The firm has a market cap of $124.43 million, a PE ratio of -1.34 and a beta of 0.14. The stock has a 50 day moving average of $0.89 and a 200-day moving average of $1.34. The company has a quick ratio of 1.29, a current ratio of 1.34 and a debt-to-equity ratio of 1.04.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orion Portfolio Solutions LLC bought a new position in shares of D-Wave Quantum during the third quarter valued at $28,000. Cetera Advisor Networks LLC bought a new position in shares of D-Wave Quantum during the second quarter valued at $29,000. Vontobel Holding Ltd. bought a new position in shares of D-Wave Quantum during the second quarter valued at $32,000. Blair William & Co. IL bought a new position in shares of D-Wave Quantum during the third quarter valued at $33,000. Finally, Aire Advisors LLC acquired a new stake in shares of D-Wave Quantum in the third quarter valued at $39,000. 49.41% of the stock is owned by institutional investors.

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.