D-Wave Quantum (NYSE:QBTS) Given New $7.00 Price Target at Roth Mkm

D-Wave Quantum (NYSE:QBTS) had its price objective boosted by Roth Mkm from $3.00 to $7.00 in a research note published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Needham & Company LLC reiterated 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 upped their price target on shares of D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Monday, November 25th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, D-Wave Quantum presently has an average rating of “Buy” and an average price target of $3.71.

D-Wave Quantum Price Performance

QBTS stock opened at $3.91 on Thursday. The company has a 50 day simple moving average of $1.91 and a 200 day simple moving average of $1.35. The stock has a market cap of $875.88 million, a price-to-earnings ratio of -9.31 and a beta of 1.79. D-Wave Quantum has a 1 year low of $0.68 and a 1 year high of $5.38.

Insider Buying and Selling at D-Wave Quantum

In other news, major shareholder Sector Pension Investme Public sold 643,866 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $4.87, for a total value of $3,135,627.42. Following the sale, the insider now directly owns 18,730,193 shares of the company’s stock, valued at approximately $91,216,039.91. This represents a 3.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 7.22% of the company’s stock.

Institutional Investors Weigh In On D-Wave Quantum

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of D-Wave Quantum by 17.9% in the 1st quarter. Vanguard Group Inc. now owns 1,070,337 shares of the company’s stock valued at $2,183,000 after purchasing an additional 162,688 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of D-Wave Quantum by 23.0% in the 3rd quarter. Penserra Capital Management LLC now owns 4,485,777 shares of the company’s stock valued at $4,409,000 after purchasing an additional 839,942 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of D-Wave Quantum in the 2nd quarter valued at $163,000. Bank of New York Mellon Corp bought a new stake in shares of D-Wave Quantum in the 2nd quarter valued at $251,000. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of D-Wave Quantum in the 2nd quarter valued at $45,000. 42.47% of the stock is owned by institutional investors.

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.