D-Wave Quantum (NYSE:QBTS) Shares Down 1.1% – Time to Sell?

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price fell 1.1% on Friday . The company traded as low as $8.83 and last traded at $9.50. 28,528,932 shares were traded during mid-day trading, a decline of 36% from the average session volume of 44,788,922 shares. The stock had previously closed at $9.61.

Analyst Ratings Changes

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

D-Wave Quantum Stock Down 4.9 %

The stock has a market cap of $2.46 billion, a PE ratio of -21.76 and a beta of 1.79. The business’s 50-day simple moving average is $4.20 and its 200-day simple moving average is $2.13.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $6.68, for a total transaction of $6,680,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 Investors Weigh In On D-Wave Quantum

Large investors have recently modified their holdings of the stock. Penserra Capital Management LLC raised its stake in D-Wave Quantum by 23.0% in the third quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock worth $4,409,000 after buying an additional 839,942 shares in the last quarter. Geode Capital Management LLC raised its position in shares of D-Wave Quantum by 33.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after acquiring an additional 645,039 shares in the last quarter. Marshall Wace LLP bought a new position in shares of D-Wave Quantum in the 2nd quarter worth approximately $265,000. Bank of New York Mellon Corp purchased a new position in shares of D-Wave Quantum in the 2nd quarter valued at approximately $251,000. Finally, Squarepoint Ops LLC bought a new stake in shares of D-Wave Quantum during the second quarter valued at approximately $163,000. Institutional investors 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.