D-Wave Quantum (NYSE:QBTS) Trading Down 36.1% – Time to Sell?

D-Wave Quantum Inc. (NYSE:QBTS) traded down 36.1% on Thursday . The company traded as low as $4.65 and last traded at $6.10. 180,694,530 shares traded hands during trading, an increase of 93% from the average session volume of 93,449,617 shares. The stock had previously closed at $9.55.

Wall Street Analyst Weigh In

QBTS has been the topic of a number of research analyst reports. Craig Hallum upped their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. B. Riley lifted their target price on D-Wave Quantum from $3.75 to $4.50 and gave the stock a “buy” rating in a report on Monday, November 25th. Benchmark boosted their price target on D-Wave Quantum from $3.00 to $8.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. Finally, Roth Mkm boosted their target price 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum has a consensus rating of “Buy” and a consensus price target of $5.63.

D-Wave Quantum Stock Performance

The company has a market cap of $1.55 billion, a price-to-earnings ratio of -13.74 and a beta of 1.16. The stock’s fifty day moving average is $4.84 and its two-hundred day moving average is $2.34.

Insider Buying and Selling

In other D-Wave Quantum news, major shareholder Sector Pension Investme Public sold 8,437,593 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $4.21, for a total value of $35,522,266.53. Following the transaction, the insider now owns 1,000,000 shares of the company’s stock, valued at approximately $4,210,000. The trade was a 89.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 10,081,459 shares of company stock worth $45,337,894. 7.22% of the stock is owned by corporate insiders.

Institutional Trading of D-Wave Quantum

A number of large investors have recently added to or reduced their stakes in QBTS. Thoroughbred Financial Services LLC purchased a new stake in D-Wave Quantum during the second quarter valued at about $45,000. SG Americas Securities LLC bought a new position in D-Wave Quantum in the 3rd quarter worth approximately $42,000. Bogart Wealth LLC bought a new stake in D-Wave Quantum during the 3rd quarter valued at $49,000. Rhumbline Advisers bought a new position in shares of D-Wave Quantum in the second quarter worth $93,000. Finally, Silverleafe Capital Partners LLC purchased a new position in shares of D-Wave Quantum in the fourth quarter valued at $820,000. Hedge funds and other 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.