D-Wave Quantum (NYSE:QBTS) Shares Down 0.4% - Here's Why

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) shares traded down 0.4% during mid-day trading on Monday . The company traded as low as $5.53 and last traded at $5.79. 18,955,625 shares were traded during trading, a decline of 79% from the average session volume of 91,198,938 shares. The stock had previously closed at $5.81.

Analyst Ratings Changes

A number of analysts have weighed in on QBTS shares. Roth Mkm upped their price target on D-Wave Quantum from $3.00 to $7.00 and gave the company a "buy" rating in a research report on Thursday, December 12th. B. Riley boosted their price objective on D-Wave Quantum from $4.50 to $9.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Craig Hallum boosted their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Benchmark reissued a "buy" rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $2.25 price target 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, According to data from MarketBeat, D-Wave Quantum has a consensus rating of "Buy" and a consensus target price of $6.38.

D-Wave Quantum Stock Up 8.0 %

The stock has a market cap of $1.76 billion, a PE ratio of -15.54 and a beta of 1.10. The firm has a 50-day simple moving average of $6.51 and a 200-day simple moving average of $3.08.

Insider Activity

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the firm's 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 transaction, the insider now directly owns 1,000,000 shares of the company's stock, valued at approximately $4,210,000. This trade represents a 89.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan E. Baratz sold 8,372 shares of the firm's stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total value of $44,120.44. Following the completion of the transaction, the chief executive officer now directly owns 2,342,208 shares in the company, valued at $12,343,436.16. This trade represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,152,665 shares of company stock valued at $92,096,075. 7.22% of the stock is currently owned by insiders.

Institutional Trading of D-Wave Quantum

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in D-Wave Quantum during the 4th quarter valued at about $38,000. Heritage Wealth Advisors acquired a new position in D-Wave Quantum during the 4th quarter valued at about $67,000. Kingsview Wealth Management LLC acquired a new position in D-Wave Quantum during the 4th quarter valued at about $84,000. Ameritas Investment Partners Inc. increased its position in D-Wave Quantum by 20.6% during the 4th quarter. Ameritas Investment Partners Inc. now owns 10,347 shares of the company's stock valued at $87,000 after buying an additional 1,766 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in D-Wave Quantum during the 4th quarter valued at about $90,000. 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.