D-Wave Quantum (NYSE:QBTS) Given New $9.00 Price Target at Craig Hallum

D-Wave Quantum (NYSE:QBTS) had its price objective increased by Craig Hallum from $2.50 to $9.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the company. B. Riley lifted their price target on D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Monday, November 25th. Roth Mkm increased their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $2.25 target price on shares of D-Wave Quantum in a research note on Friday, November 15th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum has an average rating of “Buy” and an average target price of $5.63.

D-Wave Quantum Trading Up 1.1 %

QBTS opened at $6.44 on Friday. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -15.33 and a beta of 1.79. The stock has a fifty day moving average price of $2.64 and a 200-day moving average price of $1.59. D-Wave Quantum has a 12 month low of $0.68 and a 12 month high of $10.50.

Insider Activity at D-Wave Quantum

In other news, major shareholder Sector Pension Investme Public sold 643,866 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $4.87, for a total value of $3,135,627.42. Following the sale, the insider now owns 18,730,193 shares of the company’s stock, valued at approximately $91,216,039.91. The trade was a 3.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.22% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of D-Wave Quantum during the 3rd quarter worth $42,000. Thoroughbred Financial Services LLC acquired a new stake in D-Wave Quantum during the second quarter worth $45,000. Bogart Wealth LLC acquired a new stake in shares of D-Wave Quantum during the third quarter worth approximately $49,000. Instrumental Wealth LLC grew its position in D-Wave Quantum by 85.9% during the 2nd quarter. Instrumental Wealth LLC now owns 54,240 shares of the company’s stock worth $62,000 after acquiring an additional 25,067 shares during the last quarter. Finally, Rhumbline Advisers acquired a new stake in D-Wave Quantum during the 2nd quarter valued at $93,000. Hedge funds and other 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.