D-Wave Quantum (NYSE:QBTS) Stock Price Down 8.3% – What’s Next?

D-Wave Quantum Inc. (NYSE:QBTS) shares were down 8.3% on Tuesday . The company traded as low as $9.20 and last traded at $9.36. Approximately 33,624,566 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 62,679,586 shares. The stock had previously closed at $10.21.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on QBTS shares. 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. Craig Hallum boosted their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Benchmark increased their target price on D-Wave Quantum from $3.00 to $8.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. B. Riley increased their price target 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. Finally, Roth Mkm boosted their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $5.63.

D-Wave Quantum Trading Down 8.9 %

The firm has a 50-day moving average of $4.37 and a 200 day moving average of $2.20. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -22.14 and a beta of 1.16.

Insider Activity at D-Wave Quantum

In related news, major shareholder Sector Pension Investme Public sold 643,866 shares of the business’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 sale, the insider now owns 18,730,193 shares of the company’s stock, valued at $91,216,039.91. The trade was a 3.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 10,081,459 shares of company stock valued at $45,337,894 over the last three months. 7.22% of the stock is owned by insiders.

Institutional Trading of D-Wave Quantum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Silverleafe Capital Partners LLC bought a new stake in shares of D-Wave Quantum during the 4th quarter worth about $820,000. Barclays PLC boosted its holdings in shares of D-Wave Quantum by 298.3% in the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after acquiring an additional 89,894 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of D-Wave Quantum by 33.8% in the third quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after buying an additional 645,039 shares during the last quarter. State Street Corp lifted its holdings in D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock worth $1,986,000 after buying an additional 17,225 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in D-Wave Quantum by 23.0% in the third quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after acquiring an additional 839,942 shares during the last quarter. 42.47% of the stock is 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.