D-Wave Quantum (NYSE:QBTS) Trading Down 1.2% – Here’s Why

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price fell 1.2% on Thursday . The stock traded as low as $5.81 and last traded at $6.07. 19,543,879 shares traded hands during trading, a decline of 76% from the average session volume of 83,081,094 shares. The stock had previously closed at $6.14.

Analyst Ratings Changes

A number of analysts have recently issued reports on QBTS shares. Craig Hallum boosted their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Benchmark restated a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Roth Mkm raised their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and issued a $2.25 target price on shares of D-Wave Quantum in a research note on Friday, November 15th. Finally, B. Riley increased their price target on shares of D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $6.71.

D-Wave Quantum Stock Down 1.3 %

The stock has a fifty day simple moving average of $6.66 and a 200-day simple moving average of $3.52. The company has a market capitalization of $1.48 billion, a P/E ratio of -13.07 and a beta of 1.10.

Insider Buying and Selling

In other D-Wave Quantum news, CFO John M. Markovich sold 5,582 shares of D-Wave Quantum stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $29,417.14. Following the completion of the transaction, the chief financial officer now owns 1,064,556 shares in the company, valued at approximately $5,610,210.12. The trade was a 0.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Sector Pension Investme Public sold 643,866 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42. Following the completion of the transaction, the insider now directly owns 18,730,193 shares in the company, valued at approximately $91,216,039.91. This represents a 3.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,152,665 shares of company stock worth $92,096,075 in the last quarter. 7.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Ameriflex Group Inc. bought a new stake in D-Wave Quantum during the 4th quarter worth about $205,000. Fourth Dimension Wealth LLC acquired a new position in shares of D-Wave Quantum during the fourth quarter worth approximately $26,000. Voloridge Investment Management LLC bought a new stake in shares of D-Wave Quantum during the fourth quarter valued at approximately $2,063,000. Squarepoint Ops LLC acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $1,989,000. Finally, Tidal Investments LLC bought a new position in D-Wave Quantum in the 4th quarter worth approximately $104,000. 42.47% 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.