D-Wave Quantum (NYSE:QBTS) Shares Gap Down – Should You Sell?

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $9.91, but opened at $9.17. D-Wave Quantum shares last traded at $8.57, with a volume of 21,257,476 shares traded.

Analyst Upgrades and Downgrades

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

D-Wave Quantum Stock Down 5.4 %

The firm has a fifty day moving average of $3.41 and a 200-day moving average of $1.86. The firm has a market cap of $2.10 billion, a P/E ratio of -22.31 and a beta of 1.79.

Insider Activity at D-Wave Quantum

In other news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $6.68, for a total transaction of $6,680,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 10,081,459 shares of company stock valued at $45,337,894. 7.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new position in D-Wave Quantum in the third quarter valued at about $42,000. Thoroughbred Financial Services LLC acquired a new stake in shares of D-Wave Quantum during the 2nd quarter worth approximately $45,000. Bogart Wealth LLC bought a new position in D-Wave Quantum in the third quarter valued at approximately $49,000. Rhumbline Advisers acquired a new position in D-Wave Quantum during the second quarter valued at approximately $93,000. Finally, Barclays PLC boosted its holdings in shares of D-Wave Quantum by 298.3% in the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after purchasing an additional 89,894 shares in the last quarter. Institutional investors and hedge funds own 42.47% of the company’s stock.

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.