D-Wave Quantum (NYSE:QBTS) Shares Gap Down – What’s Next?

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $9.55, but opened at $6.58. D-Wave Quantum shares last traded at $5.43, with a volume of 40,714,867 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on QBTS shares. Needham & Company LLC restated a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a research note on Friday, November 15th. Benchmark raised their price objective on shares of D-Wave Quantum from $3.00 to $8.00 and gave the company a “buy” rating in a research report on Friday, December 20th. B. Riley upped their target price on shares of D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a report on Monday, November 25th. Craig Hallum raised their price target on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Roth Mkm boosted their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $5.63.

D-Wave Quantum Stock Down 5.4 %

The company has a market capitalization of $1.55 billion, a PE ratio of -13.74 and a beta of 1.16. The company’s 50 day moving average is $4.74 and its two-hundred day moving average is $2.31.

Insider Buying and Selling at D-Wave Quantum

In related news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the sale, the insider now owns 1,000,000 shares of the company’s stock, valued at $4,210,000. This represents a 89.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 10,081,459 shares of company stock valued at $45,337,894 in the last 90 days. Insiders own 7.22% of the company’s stock.

Institutional Trading of D-Wave Quantum

A number of large investors have recently made changes to their positions in QBTS. SG Americas Securities LLC bought a new stake in D-Wave Quantum in the third quarter worth $42,000. Thoroughbred Financial Services LLC bought a new stake in shares of D-Wave Quantum in the 2nd quarter worth about $45,000. Bogart Wealth LLC purchased a new position in shares of D-Wave Quantum during the 3rd quarter worth about $49,000. Rhumbline Advisers bought a new position in D-Wave Quantum during the 2nd quarter valued at about $93,000. Finally, Barclays PLC raised its position in D-Wave Quantum by 298.3% in the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after purchasing an additional 89,894 shares during the period. 42.47% of the stock is currently owned by 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.