D-Wave Quantum (NYSE:QBTS) Trading Up 11.6% - What's Next?

Shares of D-Wave Quantum Inc. (NYSE:QBTS) saw a significant increase of 11.6% during midday trading on Tuesday. The stock reached a high of $6.06 before closing at $5.88. In total, around 47.7 million shares changed hands during this trading session, which is a decline of 56% from the average daily volume of around 107.6 million shares. The previous closing price for D-Wave Quantum stock was $5.27.

D-Wave Quantum Alerts:

Analyst Ratings Changes

• Beyond Rigetti: Top 3 Quantum Computing Stock Picks

Recently, several analysts have provided insights on D-Wave Quantum. Craig Hallum increased their price target from $2.50 to $9.00 and maintained a 'buy' rating as of December 20th. Additionally, Benchmark reiterated a 'buy' rating with a price target of $8.00 in a report dated January 14th. Roth MKM also raised their price target for D-Wave Quantum from $3.00 to $7.00, while Needham & Company LLC set a target price of $2.25 in their report from November 15th. Furthermore, B. Riley adjusted their price objective from $4.50 to $9.00 as of January 14th. According to MarketBeat.com, six analysts have given D-Wave Quantum a buy rating and the average target price stands at $6.38.

Price Movement and Market Data

• D-Wave's Stock Springs Back in the Quantum Computing Race

The company's 50-day moving average price is currently $5.48, and its 200-day moving average stands at $2.59. D-Wave Quantum holds a market capitalization of approximately $1.62 billion and has a PE ratio of -14.33, with a beta of 1.16.

Insider Transactions

In a recent insider transaction, major shareholder Sector Pension Investment sold 7,278,688 shares of D-Wave Quantum on January 13th. This sale occurred at an average price of $4.07, totaling approximately $29.6 million. Following this transaction, the insider retains ownership of about 30 million shares, currently valued at around $122.1 million. This particular sale represents a 19.53% reduction in their stake in the company. Insiders have sold a total of 20,138,711 shares over the past three months, amounting to about $92 million. Currently, corporate insiders own around 7.22% of D-Wave Quantum's stock.

Institutional Investor Activity

• QTUM ETF: The Diversified Way to Ride Quantum Computing Trends

Several large investors have recently adjusted their positions with D-Wave Quantum. Barclays PLC increased its stake by 298.3% in the third quarter, now holding 120,029 shares valued at around $117,000 after acquiring an additional 89,894 shares. Silverleafe Capital Partners o bought a new position worth $820,000 during the fourth quarter. Geode Capital Management raised their holdings by 33.8%, owning approximately 2,555,927 shares now valued at $2.5 million after adding 645,039 shares. In addition, State Street Corp raised its stake by 0.9%, and Penserra Capital Management increased theirs by 23.0%. Currently, approximately 42.47% of D-Wave Quantum's stock is owned by institutional investors and hedge funds.

Company Overview

D-Wave Quantum Inc. specializes in developing and delivering quantum computing systems, software, and services globally. The company offers products such as Advantage, which is a fifth-generation quantum computer, and Ocean, a suite of open-source Python tools. Additionally, D-Wave provides Leap, a cloud service that grants real-time access to a live quantum computer and includes various development resources and community support.

Investment Considerations

As the stock market continues to evolve, investors may wonder if D-Wave Quantum is a suitable investment. Despite positive ratings from analysts, there are other stocks recommended for potential growth. Investors should evaluate various options before deciding where to invest their capital.

Note: This article does not endorse D-Wave Quantum specifically, and potential investors are advised to conduct their own research.

D-Wave, Stock, Investment