D-Wave Quantum (NYSE:QBTS – Get Free Report)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $8.50 price target on the stock. Needham & Company LLC’s price target suggests a potential downside of 16.54% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Craig Hallum boosted their price objective on shares of D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Benchmark reiterated a “buy” rating and issued a $8.00 price objective on shares of D-Wave Quantum in a research report on Friday. Roth Mkm boosted their price objective on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, B. Riley increased their price objective on D-Wave Quantum from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $8.42.
Get Our Latest Stock Report on D-Wave Quantum
D-Wave Quantum Stock Performance
Insider Activity at D-Wave Quantum
In other news, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the completion of the transaction, the insider now owns 30,000,000 shares of the company’s stock, valued at $122,100,000. This represents a 19.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Alan E. Baratz sold 8,372 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $44,120.44. Following the transaction, the chief executive officer now directly owns 2,342,208 shares of the company’s stock, valued at approximately $12,343,436.16. This represents a 0.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,071,206 shares of company stock valued at $53,438,181. 7.22% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. increased its stake in shares of D-Wave Quantum by 20.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock valued at $87,000 after acquiring an additional 1,766 shares during the last quarter. Invesco Ltd. grew its holdings in shares of D-Wave Quantum by 5.1% during the 4th quarter. Invesco Ltd. now owns 42,619 shares of the company’s stock worth $358,000 after purchasing an additional 2,051 shares during the period. Corebridge Financial Inc. grew its holdings in shares of D-Wave Quantum by 5.0% during the 4th quarter. Corebridge Financial Inc. now owns 49,174 shares of the company’s stock worth $413,000 after purchasing an additional 2,342 shares during the period. Fourth Dimension Wealth LLC purchased a new stake in shares of D-Wave Quantum during the 4th quarter worth about $26,000. Finally, Steward Partners Investment Advisory LLC grew its holdings in shares of D-Wave Quantum by 38.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,060 shares of the company’s stock worth $110,000 after purchasing an additional 3,660 shares during the period. Institutional investors and hedge funds 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.
Featured Articles
- Five stocks we like better than D-Wave Quantum
- What is the Euro STOXX 50 Index?
- Ignore Reports, Apple Won’t Install Starlink with iOS 18.3
- Market Cap Calculator: How to Calculate Market Cap
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
Receive News & Ratings for D-Wave Quantum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for D-Wave Quantum and related companies with MarketBeat.com's FREE daily email newsletter.