D-Wave Quantum (NYSE:QBTS) Shares Down 0.4% After Insider Selling

D-Wave Quantum Inc. (NYSE:QBTS)’s share price traded down 0.4% on Tuesday after an insider sold shares in the company. The stock traded as low as $5.55 and last traded at $5.56. 17,424,361 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 107,574,266 shares. The stock had previously closed at $5.58.

Specifically, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $44,120.44. Following the completion of the sale, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at $12,343,436.16. This trade represents a 0.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John M. Markovich sold 5,582 shares of D-Wave Quantum stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the sale, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at $5,610,210.12. This trade represents a 0.52 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Benchmark reissued a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $2.25 price objective on shares of D-Wave Quantum in a research note on Friday, November 15th. Craig Hallum lifted their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Roth Mkm lifted their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. Finally, B. Riley lifted their price objective on shares of D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $6.38.

D-Wave Quantum Trading Down 4.0 %

The stock has a market cap of $1.48 billion, a P/E ratio of -13.11 and a beta of 1.16. The firm’s fifty day moving average is $5.82 and its 200 day moving average is $2.73.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of D-Wave Quantum during the 3rd quarter worth about $42,000. Bogart Wealth LLC bought a new position in shares of D-Wave Quantum during the 3rd quarter worth about $49,000. Kingsview Wealth Management LLC bought a new position in shares of D-Wave Quantum during the 4th quarter worth about $84,000. Spire Wealth Management bought a new position in shares of D-Wave Quantum during the 4th quarter worth about $90,000. Finally, Barclays PLC increased its holdings 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 worth $117,000 after purchasing an additional 89,894 shares during the period. 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.