Insider Selling: D-Wave Quantum Inc. (NYSE:QBTS) CFO Sells 5,582 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John M. Markovich sold 5,582 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $5.27, for a total transaction of $29,417.14. Following the completion of 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 represents a 0.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

D-Wave Quantum Trading Up 2.8 %

Shares of D-Wave Quantum stock opened at $5.74 on Wednesday. D-Wave Quantum Inc. has a 1 year low of $0.75 and a 1 year high of $11.41. The company’s fifty day simple moving average is $5.73 and its 200-day simple moving average is $2.70. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -13.65 and a beta of 1.16.

Wall Street Analyst Weigh In

Several research firms have commented on QBTS. Benchmark reissued a “buy” rating and set a $8.00 target price on shares of D-Wave Quantum in a research report on Tuesday, January 14th. Craig Hallum raised 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 restated a “buy” rating and issued a $2.25 target price on shares of D-Wave Quantum in a report on Friday, November 15th. Roth Mkm increased their price target on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, B. Riley boosted their price objective on shares of D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $6.38.

Institutional Trading of D-Wave Quantum

Several hedge funds and other institutional investors have recently bought and sold shares of QBTS. Kingsview Wealth Management LLC bought a new stake in shares of D-Wave Quantum in the fourth quarter valued at about $84,000. Spire Wealth Management acquired a new position in D-Wave Quantum in the 4th quarter valued at approximately $90,000. Sonora Investment Management Group LLC bought a new stake in shares of D-Wave Quantum in the 4th quarter worth approximately $135,000. Strategic Advocates LLC acquired a new stake in shares of D-Wave Quantum during the 4th quarter worth approximately $148,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of D-Wave Quantum during the fourth quarter valued at approximately $162,000. 42.47% of the stock is currently owned by institutional investors and hedge funds.

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.