D-Wave Quantum Inc. (NYSE:QBTS – Get Free Report) was up 4.3% during trading on Tuesday . The stock traded as high as $6.26 and last traded at $6.01. Approximately 31,676,898 shares changed hands during trading, a decline of 67% from the average daily volume of 95,833,469 shares. The stock had previously closed at $5.76.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a report on Tuesday, January 14th. B. Riley lifted their target price on shares of D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Craig Hallum lifted their target price on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Roth Mkm lifted 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $6.38.
View Our Latest Analysis on QBTS
D-Wave Quantum Price Performance
Insider Transactions at D-Wave Quantum
In other news, CEO Alan E. Baratz sold 8,372 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $44,120.44. Following the transaction, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at approximately $12,343,436.16. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 1,000,000 shares in the company, valued at approximately $4,210,000. The trade was a 89.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,152,665 shares of company stock valued at $92,096,075 over the last 90 days. 7.22% of the stock is currently owned by corporate insiders.
Institutional Trading of D-Wave Quantum
A number of large investors have recently made changes to their positions in QBTS. SG Americas Securities LLC purchased a new position in D-Wave Quantum in the third quarter valued at approximately $42,000. Bogart Wealth LLC purchased a new position in D-Wave Quantum in the third quarter valued at approximately $49,000. Kingsview Wealth Management LLC acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $84,000. Spire Wealth Management acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $90,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at approximately $105,000. 42.47% of the stock is currently owned by hedge funds and other 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.
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