D-Wave Quantum (NYSE:QBTS) Stock Price Down 27.7% - Should You Sell?

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report)'s stock price traded down 27.7% during trading on Monday . The company traded as low as $4.03 and last traded at $4.17. 47,761,019 shares were traded during trading, a decline of 44% from the average session volume of 85,795,711 shares. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

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

D-Wave Quantum Trading Up 22.2 %

The company has a market cap of $1.56 billion, a P/E ratio of -13.76 and a beta of 1.16. The company has a 50 day moving average price of $4.97 and a 200-day moving average price of $2.41.

Insider Activity

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53. Following the completion of the transaction, the insider now directly owns 1,000,000 shares in the company, valued at approximately $4,210,000. This trade represents a 89.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 20,138,711 shares of company stock worth $92,022,537. Corporate insiders own 7.22% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors bought a new stake in D-Wave Quantum during the 4th quarter worth approximately $162,000. Sovereign Financial Group Inc. bought a new stake in shares of D-Wave Quantum in the fourth quarter worth $179,000. Thoroughbred Financial Services LLC acquired a new stake in D-Wave Quantum in the second quarter valued at $45,000. SG Americas Securities LLC acquired a new position in D-Wave Quantum during the 3rd quarter worth about $42,000. Finally, Bogart Wealth LLC bought a new stake in shares of D-Wave Quantum in the 3rd quarter valued at about $49,000. Institutional investors own 42.47% of the company's stock.

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.