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

D-Wave Quantum Inc. (NYSE:QBTS)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $9.91, but opened at $9.17. D-Wave Quantum shares last traded at $8.57, with a volume of 21,257,476 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on QBTS. Benchmark boosted their price objective on shares of D-Wave Quantum from $3.00 to $8.00 and gave the company a “buy” rating in a report on Friday, December 20th. Roth Mkm boosted 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 note on Thursday, December 12th. 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. B. Riley boosted their target price on D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Craig Hallum raised their price target on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $5.63.

D-Wave Quantum Stock Down 9.7 %

The business’s fifty day moving average is $3.72 and its two-hundred day moving average is $1.97. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -20.00 and a beta of 1.79.

Insider Buying and Selling 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 dated 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 in the company, valued at $91,216,039.91. This represents a 3.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 10,081,459 shares of company stock valued at $45,337,894 in the last 90 days. Company insiders own 7.22% of the company’s stock.

Hedge Funds Weigh In On D-Wave Quantum

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in shares of D-Wave Quantum during the second quarter worth approximately $251,000. Rhumbline Advisers acquired a new position in D-Wave Quantum during the 2nd quarter worth approximately $93,000. Thoroughbred Financial Services LLC purchased a new stake in shares of D-Wave Quantum in the 2nd quarter valued at approximately $45,000. XTX Topco Ltd acquired a new stake in shares of D-Wave Quantum in the 2nd quarter valued at $163,000. Finally, Marshall Wace LLP purchased a new stake in shares of D-Wave Quantum during the 2nd quarter worth $265,000. Hedge funds and other 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.