D-Wave Quantum (NYSE:QBTS) Shares Down 8.2% – Time to Sell?

Shares of D-Wave Quantum Inc. (NYSE:QBTS) were down 8.2% during trading on Monday . The stock traded as low as $4.66 and last traded at $4.76. Approximately 13,165,682 shares traded hands during trading, a decline of 83% from the average daily volume of 76,783,773 shares. The stock had previously closed at $5.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Craig Hallum boosted their target price 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. Benchmark restated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Roth Mkm upped their price objective 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 boosted their target price on D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $2.25 target price on shares of D-Wave Quantum in a research report on Friday, November 15th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, D-Wave Quantum has a consensus rating of “Buy” and an average price target of $6.71.

D-Wave Quantum Stock Performance

The firm has a market cap of $1.25 billion, a P/E ratio of -11.04 and a beta of 1.12. The firm’s fifty day moving average price is $6.31 and its 200 day moving average price is $3.71.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, CEO Alan E. Baratz sold 8,372 shares of D-Wave Quantum stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $44,120.44. Following the completion of the transaction, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. This trade represents a 0.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $4.07, for a total value of $29,624,260.16. Following the sale, the insider now directly owns 30,000,000 shares in the company, valued at approximately $122,100,000. This trade represents a 19.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,152,665 shares of company stock valued at $92,096,075 in the last ninety days. Corporate insiders own 7.22% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of QBTS. Barclays PLC raised its holdings in D-Wave Quantum by 298.3% in 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. Silverleafe Capital Partners LLC purchased a new stake in D-Wave Quantum in the 4th quarter worth $820,000. Truist Financial Corp acquired a new position in D-Wave Quantum during the fourth quarter worth $108,000. Patriot Financial Group Insurance Agency LLC purchased a new position in D-Wave Quantum during the fourth quarter valued at $488,000. Finally, Stephens Inc. AR acquired a new stake in shares of D-Wave Quantum in the fourth quarter valued at about $494,000. Institutional investors and hedge funds 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.