D-Wave Quantum’s (QBTS) Buy Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of D-Wave Quantum (NYSE:QBTS) in a research note released on Tuesday,Benzinga reports. They currently have a $8.00 price objective on the stock.

A number of other research analysts also recently commented on the company. Roth Mkm boosted their price target on D-Wave Quantum from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Thursday, December 12th. B. Riley boosted their target price 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. Craig Hallum increased their price target 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. Finally, Needham & Company LLC restated a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a research report on Friday, November 15th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $6.38.

D-Wave Quantum Price Performance

Shares of NYSE QBTS opened at $5.79 on Tuesday. The business has a fifty day moving average price of $5.06 and a two-hundred day moving average price of $2.43. The stock has a market capitalization of $1.56 billion, a PE ratio of -13.80 and a beta of 1.16. D-Wave Quantum has a fifty-two week low of $0.68 and a fifty-two week high of $11.41.

Insider Transactions at D-Wave Quantum

In related news, major shareholder Sector Pension Investme Public sold 1,000,000 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $6.68, for a total transaction of $6,680,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders sold 20,138,711 shares of company stock valued at $92,022,537. 7.22% of the stock is currently owned by insiders.

Hedge Funds Weigh In On D-Wave Quantum

A number of institutional investors and hedge funds have recently bought and sold shares of QBTS. Penserra Capital Management LLC boosted its stake in shares of D-Wave Quantum by 23.0% during the third 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 in the last quarter. Geode Capital Management LLC raised its holdings in D-Wave Quantum by 33.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,555,927 shares of the company’s stock valued at $2,513,000 after buying an additional 645,039 shares during the last quarter. State Street Corp boosted its position in D-Wave Quantum by 0.9% during the 3rd quarter. State Street Corp now owns 2,020,977 shares of the company’s stock worth $1,986,000 after buying an additional 17,225 shares during the period. Marshall Wace LLP bought a new stake in D-Wave Quantum during the 2nd quarter worth approximately $265,000. Finally, Bank of New York Mellon Corp acquired a new position in D-Wave Quantum in the 2nd quarter valued at approximately $251,000. Institutional investors and hedge funds own 42.47% of the company’s stock.

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.