Analysts Set D-Wave Quantum Inc. (NYSE:QBTS) Price Target at $6.38

D-Wave Quantum Inc. (NYSE:QBTS) has received a favorable average rating of "Buy" from six research firms currently monitoring the company, as reported by Marketbeat. All six analysts evaluating the stock have issued buy recommendations, indicating positive sentiment towards D-Wave's future performance.

The average one-year price target among the brokerages that have covered D-Wave Quantum in the past year stands at $6.38.

D-Wave Quantum has been recognized for its resurgence in the quantum computing sector, drawing attention from numerous equity analysts who have recently released their evaluations on the stock. In a report dated December 12, Roth MKM raised their price target for D-Wave Quantum shares from $3.00 to $7.00, maintaining a "buy" rating. Following this, on December 20, Craig Hallum increased their price target from $2.50 to $9.00 and also rated the stock as a "buy." On November 15, Needham & Company reaffirmed a "buy" rating with a target price of $2.25, while Benchmark set their price target at $8.00 on January 14, once again rating the stock as a "buy." Lastly, B. Riley increased their price target from $4.50 to $9.00, retaining a "buy" rating as well.

D-Wave Quantum Stock Performance

On Thursday, D-Wave Quantum shares opened at $5.28. The company boasts a market capitalization of approximately $1.42 billion and has a price-to-earnings ratio of -12.56 alongside a beta of 1.16. Its 50-day moving average is $5.22, while the two-hundred-day moving average is $2.48. Over the past year, D-Wave Quantum's stock has experienced significant volatility, with a low of $0.68 and a high of $11.41.

Insider Transactions at D-Wave Quantum

In related news, a significant shareholder, Sector Pension Investme Public, sold 8,437,593 shares of D-Wave Quantum on December 12 at an average price of $4.21. This transaction amounted to $35,522,266.53. Post-sale, the insider retains ownership of 1,000,000 shares, valued at $4,210,000, indicating a decline in ownership by 89.40%. The transaction has been disclosed in a filing with the SEC. Over the last 90 days, insiders have sold a cumulative total of 20,138,711 shares valued at $92,022,537, and company insiders now hold 7.22% of the total shares outstanding.

Institutional Investors and D-Wave Quantum

A number of institutional investors have recently adjusted their positions in D-Wave Quantum. Veracity Capital LLC, for instance, acquired a new stake in the fourth quarter worth $228,000, while Traynor Capital Management invested approximately $219,000 during the same period. Other significant new investments included Arkadios Wealth Advisors and Sovereign Financial Group, valued at around $162,000 and $179,000, respectively. Additionally, Silverleafe Capital Partners LLC bought into D-Wave Quantum with a stake worth roughly $820,000. Collectively, institutional investors own around 42.47% of D-Wave Quantum's stock.

About D-Wave Quantum Inc.

D-Wave Quantum Inc. specializes in developing and delivering quantum computing systems, software, and services on a global scale. One of its notable offerings is the Advantage, a fifth-generation quantum computer. The company also provides the Ocean toolkit, consisting of open-source Python tools, alongside Leap, a cloud-based service granting real-time access to a live quantum computer and a suite of resources aimed at developers and researchers.

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