D-Wave Quantum (NYSE:QBTS) Trading Down 0.4% on Insider Selling

D-Wave Quantum Inc. (NYSE:QBTS)’s share price traded down 0.4% during trading on Tuesday following insider selling activity. The stock traded as low as $5.55 and last traded at $5.56. 17,424,361 shares were traded during trading, a decline of 84% from the average session volume of 107,574,266 shares. The stock had previously closed at $5.58.

Specifically, CEO Alan E. Baratz sold 8,372 shares of the company’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 $44,120.44. Following the completion of the sale, the chief executive officer now owns 2,342,208 shares of the company’s stock, valued at $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John M. Markovich sold 5,582 shares of the business’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 $5,610,210.12. The trade was a 0.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Craig Hallum boosted 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 upped their price objective 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. Benchmark restated a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a research report on Tuesday, January 14th. B. Riley boosted their price target on shares of D-Wave Quantum from $4.50 to $9.00 and gave the company a “buy” rating in a report on Tuesday, January 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 note on Friday, November 15th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, D-Wave Quantum currently has an average rating of “Buy” and a consensus target price of $6.38.

D-Wave Quantum Stock Performance

The firm’s 50-day simple moving average is $5.73 and its two-hundred day simple moving average is $2.70. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -13.29 and a beta of 1.16.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Spire Wealth Management acquired a new position in shares of D-Wave Quantum during the fourth quarter valued at $90,000. Strategic Advocates LLC acquired a new stake in D-Wave Quantum during the 4th quarter worth $148,000. Sonora Investment Management Group LLC bought a new stake in shares of D-Wave Quantum during the 4th quarter valued at $135,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of D-Wave Quantum in the 4th quarter valued at $488,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of D-Wave Quantum in the 4th quarter worth $233,000. 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.