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

Benchmark restated their buy rating on shares of D-Wave Quantum (NYSE:QBTS) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

A number of other research firms have also commented on QBTS. B. Riley boosted their price objective on D-Wave Quantum from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Roth Mkm boosted their target price on shares of D-Wave Quantum from $3.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Craig Hallum raised their price target on shares of D-Wave Quantum from $2.50 to $9.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $2.25 price objective on shares of D-Wave Quantum in a report on Friday, November 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $8.42.

D-Wave Quantum Trading Up 47.4 %

NYSE:QBTS opened at $10.19 on Friday. The stock has a market capitalization of $2.74 billion, a P/E ratio of -24.25 and a beta of 1.12. D-Wave Quantum has a 1 year low of $0.75 and a 1 year high of $11.41. The firm has a 50 day moving average of $6.07 and a 200-day moving average of $3.91.

Insider Buying and Selling at D-Wave Quantum

In other news, CFO John M. Markovich sold 5,582 shares of D-Wave Quantum 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 trade represents a 0.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alan E. Baratz sold 8,372 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 transaction of $44,120.44. Following the completion of the sale, the chief executive officer now 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. Over the last ninety days, insiders have sold 11,071,206 shares of company stock valued at $53,438,181. 7.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in D-Wave Quantum by 298.3% during the 3rd quarter. Barclays PLC now owns 120,029 shares of the company’s stock worth $117,000 after purchasing an additional 89,894 shares in the last quarter. Silverleafe Capital Partners LLC bought a new stake in shares of D-Wave Quantum during the fourth quarter worth $820,000. Truist Financial Corp acquired a new stake in shares of D-Wave Quantum during the fourth quarter worth $108,000. Patriot Financial Group Insurance Agency LLC bought a new stake in D-Wave Quantum in the 4th quarter valued at $488,000. Finally, Jones Financial Companies Lllp boosted its stake in D-Wave Quantum by 341.7% in the 4th quarter. Jones Financial Companies Lllp now owns 23,688 shares of the company’s stock worth $199,000 after purchasing an additional 18,325 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.

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.