D-Wave Quantum (NYSE:QBTS) Trading Down 0.4% – Should You Sell?

D-Wave Quantum Inc. (NYSE:QBTS) shares dropped 0.4% during trading on Monday . The company traded as low as $5.53 and last traded at $5.79. Approximately 18,955,625 shares changed hands during trading, a decline of 79% from the average daily volume of 91,198,938 shares. The stock had previously closed at $5.81.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on QBTS. Roth Mkm upped their target price 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 increased 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. Craig Hallum upped their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Needham & Company LLC restated a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. Finally, Benchmark restated a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a report on Tuesday, January 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $6.38.

D-Wave Quantum Trading Up 13.3 %

The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -14.38 and a beta of 1.10. The firm has a fifty day moving average price of $6.45 and a 200 day moving average price of $3.06.

Insider Buying and Selling at D-Wave Quantum

In related news, CFO John M. Markovich sold 5,582 shares of the business’s 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 $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 approximately $5,610,210.12. The trade was a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Sector Pension Investme Public sold 643,866 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $4.87, for a total transaction of $3,135,627.42. Following the completion of the transaction, the insider now owns 18,730,193 shares of the company’s stock, valued at $91,216,039.91. The trade was a 3.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,152,665 shares of company stock valued at $92,096,075. 7.22% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new stake in D-Wave Quantum in the 4th quarter valued at $38,000. Heritage Wealth Advisors bought a new stake in D-Wave Quantum during the fourth quarter valued at approximately $67,000. Kingsview Wealth Management LLC purchased a new position in shares of D-Wave Quantum in the 4th quarter worth about $84,000. Spire Wealth Management purchased a new stake in D-Wave Quantum in the fourth quarter worth approximately $90,000. Finally, Prudential Financial Inc. bought a new position in shares of D-Wave Quantum during the 4th quarter valued at $95,000. Institutional investors and hedge funds 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.