John M. Markovich Sells 5,582 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) CFO John M. Markovich sold 5,582 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value 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 approximately $5,610,210.12. This trade represents a 0.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

D-Wave Quantum Stock Up 2.8 %

Shares of D-Wave Quantum stock opened at $5.74 on Wednesday. D-Wave Quantum Inc. has a 12 month low of $0.75 and a 12 month high of $11.41. The stock has a market cap of $1.54 billion, a PE ratio of -13.65 and a beta of 1.16. The business has a fifty day simple moving average of $5.73 and a 200-day simple moving average of $2.70.

Hedge Funds Weigh In On D-Wave Quantum

Several institutional investors and hedge funds have recently bought and sold shares of QBTS. Kingsview Wealth Management LLC acquired a new stake in shares of D-Wave Quantum during the fourth quarter worth approximately $84,000. Spire Wealth Management purchased a new stake in D-Wave Quantum in the 4th quarter worth approximately $90,000. Sonora Investment Management Group LLC acquired a new stake in shares of D-Wave Quantum during the 4th quarter valued at $135,000. State Street Corp grew its holdings in shares of D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock valued at $1,986,000 after acquiring an additional 17,225 shares in the last quarter. Finally, Strategic Advocates LLC acquired a new position in shares of D-Wave Quantum in the fourth quarter worth $148,000. Hedge funds and other institutional investors own 42.47% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on QBTS. Benchmark reiterated a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research report on Tuesday, January 14th. B. Riley raised their target price on shares of D-Wave Quantum from $4.50 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. Craig Hallum increased their price objective on D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Roth Mkm raised their price objective on D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $6.38.

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.