D-Wave Quantum Inc. (NYSE:QBTS) CFO Sells $29,417.14 in Stock

D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CFO John M. Markovich sold 5,582 shares of the company's stock in a transaction 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 owns 1,064,556 shares of the company's stock, valued at approximately $5,610,210.12. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

D-Wave Quantum Trading Up 5.3 %

Shares of NYSE QBTS traded up $0.30 during midday trading on Friday, hitting $5.94. The company's stock had a trading volume of 70,395,235 shares, compared to its average volume of 101,048,016. The stock has a fifty day moving average price of $5.97 and a 200 day moving average price of $2.77. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -14.13 and a beta of 1.16. D-Wave Quantum Inc. has a one year low of $0.75 and a one year high of $11.41.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC purchased a new position in D-Wave Quantum in the 4th quarter worth approximately $84,000. Spire Wealth Management bought a new stake in shares of D-Wave Quantum during the 4th quarter worth $90,000. Vontobel Holding Ltd. purchased a new position in D-Wave Quantum in the fourth quarter worth $105,000. Truist Financial Corp bought a new position in D-Wave Quantum in the fourth quarter valued at $108,000. Finally, Sonora Investment Management Group LLC purchased a new stake in D-Wave Quantum during the fourth quarter valued at about $135,000. Hedge funds and other institutional investors own 42.47% of the company's stock.

Analyst Ratings Changes

QBTS has been the topic of several research analyst reports. Roth Mkm boosted 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. Needham & Company LLC reissued a "buy" rating and issued a $2.25 price target on shares of D-Wave Quantum in a report on Friday, November 15th. B. Riley raised their price objective on shares of D-Wave Quantum from $4.50 to $9.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Benchmark reiterated a "buy" rating and issued a $8.00 target price on shares of D-Wave Quantum in a research note on Tuesday, January 14th. Finally, Craig Hallum raised their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $6.38.

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.