D-Wave Quantum (NYSE:QBTS) Stock Price Down 1.5% – Should You Sell?

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price was down 1.5% during mid-day trading on Wednesday . The company traded as low as $6.28 and last traded at $6.20. Approximately 75,877,128 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 111,769,914 shares. The stock had previously closed at $6.29.

Wall Street Analyst Weigh In

Several analysts have issued reports on QBTS shares. Benchmark restated a “buy” rating and issued a $8.00 target price on shares of D-Wave Quantum in a research note on Tuesday, January 14th. B. Riley boosted their price objective on D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Craig Hallum increased their target price on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Roth Mkm boosted their price target on shares of 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, Needham & Company LLC restated a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a research note on Friday, November 15th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $6.38.

D-Wave Quantum Stock Up 1.1 %

The company has a 50-day moving average price of $5.56 and a two-hundred day moving average price of $2.62. The stock has a market capitalization of $1.64 billion, a P/E ratio of -14.51 and a beta of 1.16.

Insider Buying and Selling

In related news, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the completion of the transaction, the insider now directly owns 30,000,000 shares in the company, valued at $122,100,000. The trade was a 19.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 20,138,711 shares of company stock valued at $92,022,537. Company insiders own 7.22% of the company’s stock.

Institutional Trading of D-Wave Quantum

Large investors have recently modified their holdings of the business. Barclays PLC raised its stake in D-Wave Quantum by 298.3% in the third quarter. Barclays PLC now owns 120,029 shares of the company’s stock valued at $117,000 after purchasing an additional 89,894 shares in the last quarter. Silverleafe Capital Partners LLC purchased a new position in D-Wave Quantum in the 4th quarter worth approximately $820,000. Geode Capital Management LLC increased its holdings in shares of D-Wave Quantum by 33.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock worth $2,513,000 after buying an additional 645,039 shares during the last quarter. State Street Corp raised its position in shares of D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after buying an additional 17,225 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its holdings in shares of D-Wave Quantum by 23.0% during the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock worth $4,409,000 after acquiring an additional 839,942 shares during the last quarter. 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.