D-Wave Quantum Inc. (NYSE:QBTS – Get Free Report) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 14,340,000 shares, a growth of 26.8% from the July 15th total of 11,310,000 shares. Currently, 12.0% of the shares of the company are sold short. Based on an average trading volume of 4,120,000 shares, the days-to-cover ratio is currently 3.5 days.
Insider Buying and Selling
In other D-Wave Quantum news, Director Emil Michael sold 36,353 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $1.30, for a total value of $47,258.90. Following the sale, the director now directly owns 962,723 shares in the company, valued at approximately $1,251,539.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.22% of the company’s stock.
Institutional Investors Weigh In On D-Wave Quantum
A number of hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC boosted its stake in shares of D-Wave Quantum by 25.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,350,096 shares of the company’s stock valued at $1,188,000 after purchasing an additional 270,096 shares in the last quarter. Vanguard Group Inc. raised its holdings in D-Wave Quantum by 17.9% in the 1st quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock valued at $2,183,000 after buying an additional 162,688 shares during the last quarter. Marshall Wace LLP bought a new position in D-Wave Quantum in the 2nd quarter valued at approximately $265,000. Bank of New York Mellon Corp bought a new position in D-Wave Quantum in the 2nd quarter valued at approximately $251,000. Finally, Squarepoint Ops LLC bought a new position in D-Wave Quantum in the 2nd quarter valued at approximately $163,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
View Our Latest Analysis on D-Wave Quantum
D-Wave Quantum Trading Down 1.0 %
D-Wave Quantum stock traded down $0.01 during trading hours on Friday, reaching $0.93. 1,780,155 shares of the stock were exchanged, compared to its average volume of 3,978,747. The company has a market cap of $159.26 million, a P/E ratio of -1.75 and a beta of 0.98. D-Wave Quantum has a twelve month low of $0.57 and a twelve month high of $2.44. The stock has a 50 day moving average of $1.07 and a two-hundred day moving average of $1.40.
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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