D-Wave Quantum (NYSE:QBTS) Shares Down 24.2% – Time to Sell?

D-Wave Quantum Inc. (NYSE:QBTS)’s share price traded down 24.2% during trading on Thursday . The company traded as low as $6.28 and last traded at $6.79. 65,164,595 shares traded hands during trading, an increase of 520% from the average session volume of 10,518,844 shares. The stock had previously closed at $8.96.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $2.25 price objective on shares of D-Wave Quantum in a report on Friday, November 15th. Roth Mkm increased 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, B. Riley boosted their price objective on shares of D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a report on Monday, November 25th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, D-Wave Quantum currently has an average rating of “Buy” and a consensus price target of $3.71.

D-Wave Quantum Stock Performance

The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -14.43 and a beta of 1.79. The company has a 50-day moving average of $2.42 and a 200-day moving average of $1.52.

Insider Transactions at D-Wave Quantum

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 643,866 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $4.87, for a total transaction of $3,135,627.42. Following the completion of the transaction, the insider now owns 18,730,193 shares of the company’s stock, valued at $91,216,039.91. This represents a 3.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.22% of the stock is owned by insiders.

Institutional Trading of D-Wave Quantum

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in D-Wave Quantum during the 3rd quarter worth about $42,000. Thoroughbred Financial Services LLC acquired a new position in shares of D-Wave Quantum during the 2nd quarter worth approximately $45,000. Bogart Wealth LLC acquired a new stake in shares of D-Wave Quantum in the 3rd quarter valued at approximately $49,000. Instrumental Wealth LLC grew its stake in shares of D-Wave Quantum by 85.9% in the second quarter. Instrumental Wealth LLC now owns 54,240 shares of the company’s stock valued at $62,000 after buying an additional 25,067 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in D-Wave Quantum during the second quarter worth $93,000. Institutional investors own 42.47% of the company’s stock.

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.