D-Wave Quantum Inc. (NYSE:QBTS) CFO John M. Markovich Sells 5,582 Shares

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CFO John M. Markovich sold 5,582 shares of D-Wave Quantum stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of the sale, the chief financial officer now directly owns 1,064,556 shares in the company, valued at $5,610,210.12. This represents a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

D-Wave Quantum Stock Down 8.5 %

Shares of D-Wave Quantum stock traded down $0.52 on Monday, hitting $5.58. 75,499,310 shares of the company were exchanged, compared to its average volume of 113,283,000. The company has a 50-day moving average price of $5.65 and a 200 day moving average price of $2.67. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of -13.27 and a beta of 1.16. D-Wave Quantum Inc. has a 1-year low of $0.75 and a 1-year high of $11.41.

Hedge Funds Weigh In On D-Wave Quantum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management acquired a new position in D-Wave Quantum in the 4th quarter valued at about $90,000. Strategic Advocates LLC acquired a new position in D-Wave Quantum in the fourth quarter valued at approximately $148,000. Sonora Investment Management Group LLC purchased a new position in D-Wave Quantum in the fourth quarter worth approximately $135,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in D-Wave Quantum during the fourth quarter worth $488,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in D-Wave Quantum in the fourth quarter valued at $233,000. Institutional investors and hedge funds own 42.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. 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 research report on Tuesday, January 14th. Benchmark reiterated a "buy" rating and set a $8.00 price objective on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Craig Hallum increased their target price on 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 price target on D-Wave Quantum from $3.00 to $7.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum currently has an average rating of "Buy" and an average price target 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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