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

D-Wave Quantum (NYSE:QBTS) had its price objective increased by analysts at B. Riley from $3.75 to $4.50 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s target price points to a potential upside of 66.67% from the stock’s current price.

A number of other equities research analysts also recently weighed in on QBTS. Roth Mkm lowered their target price on shares of D-Wave Quantum from $3.00 to $2.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th. Benchmark lowered their target price on shares of D-Wave Quantum from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Westpark Capital reaffirmed a “buy” rating and issued a $3.00 target price on shares of D-Wave Quantum in a research note on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 target price 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.com, the company has a consensus rating of “Buy” and a consensus target price of $2.88.

D-Wave Quantum Trading Down 6.6 %

QBTS stock opened at $2.70 on Monday. The firm has a 50 day moving average of $1.27 and a 200-day moving average of $1.15. D-Wave Quantum has a 12 month low of $0.68 and a 12 month high of $3.77. The firm has a market capitalization of $604.83 million, a P/E ratio of -6.43 and a beta of 0.96.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Baader Bank Aktiengesellschaft purchased a new position in shares of D-Wave Quantum during the second quarter worth approximately $28,000. Instrumental Wealth LLC bought a new position in shares of D-Wave Quantum in the first quarter worth approximately $60,000. Thoroughbred Financial Services LLC bought a new position in shares of D-Wave Quantum in the second quarter worth approximately $45,000. SG Americas Securities LLC bought a new position in shares of D-Wave Quantum in the third quarter worth approximately $42,000. Finally, Bogart Wealth LLC bought a new position in shares of D-Wave Quantum in the third quarter worth approximately $49,000. 42.47% of the stock is owned by hedge funds and other institutional investors.

About D-Wave Quantum

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.