Alan E. Baratz Sells 8,372 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the transaction, the chief executive officer now owns 2,342,208 shares of the company's stock, valued at $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

D-Wave Quantum Stock Down 8.5 %

Shares of QBTS stock traded down $0.52 during trading hours on Monday, hitting $5.58. 75,499,310 shares of the company were exchanged, compared to its average volume of 113,283,000. The firm has a fifty day moving average of $5.65 and a 200 day moving average of $2.67. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $11.41. The firm has a market cap of $1.50 billion, a PE ratio of -13.27 and a beta of 1.16.

Hedge Funds Weigh In On D-Wave Quantum

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of D-Wave Quantum in the 3rd quarter valued at $42,000. Bogart Wealth LLC acquired a new position in D-Wave Quantum in the third quarter valued at $49,000. Spire Wealth Management purchased a new stake in D-Wave Quantum during the fourth quarter valued at about $90,000. Rhumbline Advisers acquired a new stake in D-Wave Quantum during the second quarter worth about $93,000. Finally, Barclays PLC lifted its stake 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.

Analyst Ratings Changes

QBTS has been the subject of a number of analyst reports. Craig Hallum boosted their price target on D-Wave Quantum from $2.50 to $9.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Benchmark reiterated a "buy" rating and set a $8.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Roth Mkm upped 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. B. Riley lifted their price target on shares of D-Wave Quantum from $4.50 to $9.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, D-Wave Quantum currently has an average rating of "Buy" and an average target price of $6.38.

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.

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