Roth Mkm Boosts D-Wave Quantum (NYSE:QBTS) Price Target to $10.00

D-Wave Quantum (NYSE:QBTS) had its price target boosted by analysts at Roth Mkm from $7.00 to $10.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s price target suggests a potential downside of 1.82% from the company’s previous close.

Several other brokerages have also recently issued reports on QBTS. Craig Hallum upped their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a research report on Friday, December 20th. B. Riley upped their price target on shares of D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $8.50 price target on shares of D-Wave Quantum in a research report on Friday. Finally, Benchmark reiterated a “buy” rating and set a $8.00 price objective on shares of D-Wave Quantum in a research report on Friday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, D-Wave Quantum has a consensus rating of “Buy” and an average price target of $8.42.

D-Wave Quantum Stock Performance

Shares of NYSE QBTS opened at $10.19 on Friday. D-Wave Quantum has a 52-week low of $0.75 and a 52-week high of $11.41. The firm has a 50 day moving average price of $6.07 and a two-hundred day moving average price of $3.88. The stock has a market cap of $2.74 billion, a P/E ratio of -24.25 and a beta of 1.12.

Insider Transactions at D-Wave Quantum

In related news, CFO John M. Markovich sold 5,582 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total transaction of $29,417.14. Following the transaction, the chief financial officer now directly owns 1,064,556 shares of the company’s stock, valued at $5,610,210.12. This represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sector Pension Investme Public sold 7,278,688 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $4.07, for a total transaction of $29,624,260.16. Following the transaction, the insider now directly owns 30,000,000 shares in the company, valued at approximately $122,100,000. This represents a 19.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,071,206 shares of company stock worth $53,438,181 over the last three months. 7.22% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Ameriflex Group Inc. bought a new position in shares of D-Wave Quantum in the fourth quarter valued at $205,000. Fourth Dimension Wealth LLC bought a new position in shares of D-Wave Quantum in the fourth quarter valued at $26,000. Voloridge Investment Management LLC bought a new position in shares of D-Wave Quantum in the fourth quarter valued at $2,063,000. Squarepoint Ops LLC bought a new position in shares of D-Wave Quantum in the fourth quarter valued at $1,989,000. Finally, Tidal Investments LLC bought a new position in shares of D-Wave Quantum in the fourth quarter valued at $104,000. 42.47% of the stock is owned by institutional investors.

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.