D-Wave Quantum (NYSE:QBTS) Trading Down 4.6% – Time to Sell?

D-Wave Quantum Inc. (NYSE:QBTS)’s share price traded down 4.6% during trading on Tuesday . The company traded as low as $8.59 and last traded at $8.87. 15,675,662 shares changed hands during mid-day trading, an increase of 23% from the average session volume of 12,764,130 shares. The stock had previously closed at $9.30.

Analysts Set New Price Targets

QBTS has been the subject of a number of analyst reports. Craig Hallum increased their price objective 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. Needham & Company LLC reissued a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. Benchmark increased their target price on shares of D-Wave Quantum from $3.00 to $8.00 and gave the stock a “buy” rating in a report on Friday, December 20th. 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. Finally, B. Riley lifted their price objective on D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a research report on Monday, November 25th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, D-Wave Quantum presently has a consensus rating of “Buy” and a consensus price target of $5.63.

D-Wave Quantum Trading Down 9.7 %

The stock’s 50 day moving average is $3.86 and its 200-day moving average is $2.01. The company has a market cap of $1.88 billion, a P/E ratio of -20.00 and a beta of 1.79.

Insider Transactions at D-Wave Quantum

In other news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $4.21, for a total transaction of $35,522,266.53. Following the completion of the transaction, the insider now directly owns 1,000,000 shares of the company’s stock, valued at $4,210,000. The trade was a 89.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 10,081,459 shares of company stock worth $45,337,894. Corporate insiders own 7.22% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QBTS. SG Americas Securities LLC purchased a new stake in shares of D-Wave Quantum in the 3rd quarter worth $42,000. Thoroughbred Financial Services LLC purchased a new stake in D-Wave Quantum in the second quarter worth about $45,000. Bogart Wealth LLC bought a new position in shares of D-Wave Quantum in the third quarter worth about $49,000. Rhumbline Advisers purchased a new position in shares of D-Wave Quantum during the 2nd quarter valued at about $93,000. Finally, Barclays PLC lifted its position in shares of D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after buying an additional 89,894 shares in the last quarter. 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.