Roth Mkm Increases D-Wave Quantum (NYSE:QBTS) Price Target to $7.00

D-Wave Quantum (NYSE:QBTS) had its target price lifted by research analysts at Roth Mkm from $3.00 to $7.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price target would indicate a potential upside of 40.14% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 price target on shares of D-Wave Quantum in a research report on Friday, November 15th. B. Riley boosted their price target on D-Wave Quantum from $3.75 to $4.50 and gave the company a “buy” rating in a report on Monday, November 25th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, D-Wave Quantum presently has an average rating of “Buy” and an average price target of $3.71.

D-Wave Quantum Trading Up 27.7 %

Shares of NYSE QBTS opened at $5.00 on Thursday. The company has a 50 day simple moving average of $1.99 and a two-hundred day simple moving average of $1.38. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -11.89 and a beta of 1.79. D-Wave Quantum has a 12 month low of $0.68 and a 12 month 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 business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $4.87, for a total transaction of $3,135,627.42. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 7.22% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QBTS. Baader Bank Aktiengesellschaft purchased a new position in D-Wave Quantum in the 2nd quarter valued at $28,000. SG Americas Securities LLC acquired a new stake in shares of D-Wave Quantum in the third quarter valued at about $42,000. Thoroughbred Financial Services LLC purchased a new position in shares of D-Wave Quantum in the second quarter worth about $45,000. Bogart Wealth LLC acquired a new position in D-Wave Quantum during the third quarter worth about $49,000. Finally, Instrumental Wealth LLC grew its stake in D-Wave Quantum by 85.9% during the 2nd quarter. Instrumental Wealth LLC now owns 54,240 shares of the company’s stock valued at $62,000 after acquiring an additional 25,067 shares in the last quarter. 42.47% of the stock is owned by hedge funds and other 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.