Alan E. Baratz Sells 8,372 Shares of D-Wave Quantum Inc. (NYSE:QBTS) Stock

Alan E. Baratz, the CEO of D-Wave Quantum Inc. (NYSE:QBTS), recently sold 8,372 shares of the company's stock on Thursday, January 23rd. The sale took place at an average price of $5.27 per share, amounting to a total of $44,120.44. After this transaction, Baratz now owns 2,342,208 shares in D-Wave, which are valued at approximately $12,343,436.16. This indicates a decrease of 0.36% in his ownership stake in the company. The details of this sale have been reported in a filing with the Securities and Exchange Commission, which can be found on the SEC's website.

Current Stock Performance

D-Wave Quantum's stock has experienced some fluctuations recently. On Monday, the stock saw a decline of 8.5%, trading down by $0.52 to reach a price of $5.58. This trading session recorded a total of 75,499,310 shares exchanged, which is notably less than the average volume of 113,283,000 shares. The company has a 50-day moving average of $5.65 and a 200-day moving average of $2.67, demonstrating some volatility. Over the past year, D-Wave Quantum's stock has varied, reaching a low of $0.75 and a high of $11.41. Its current market capitalization stands at approximately $1.50 billion with a P/E ratio of -13.27 and a beta of 1.16.

Institutional Interest in D-Wave Quantum

Recently, several institutional investors and hedge funds have shown interest in D-Wave Quantum. In the third quarter, SG Americas Securities LLC entered a new position worth $42,000. Similarly, Bogart Wealth LLC purchased shares valued at $49,000 during the same quarter. In the fourth quarter, Spire Wealth Management acquired a stake valued at about $90,000. Rhumbline Advisers also established a new stake in D-Wave Quantum during the second quarter, valued at approximately $93,000. Moreover, Barclays PLC increased its position by 298.3% in the third quarter, owning a total of 120,029 shares worth $117,000 after purchasing an additional 89,894 shares last quarter. Overall, institutional investors and hedge funds now own about 42.47% of D-Wave's stock.

Analyst Ratings and Outlook

Analysts have provided various ratings for D-Wave Quantum's stock. Craig Hallum recently raised its price target for the company from $2.50 to $9.00 and gave it a "buy" rating on December 20th. Benchmark maintained a "buy" rating and set a price target of $8.00 in its report dated January 14th. Roth MKM also increased their target price from $3.00 to $7.00 in their report released on December 12th, assigning a "buy" status to the stock. On January 14th, B. Riley lifted its price target from $4.50 to $9.00 while retaining a "buy" rating. Meanwhile, Needham & Company LLC reaffirmed a "buy" rating with a price objective of $2.25 on November 15th. Currently, six investment analysts have assigned a "buy" rating to D-Wave Quantum, resulting in an average rating of "Buy" and an average target price of $6.38, according to data from MarketBeat.com.

About D-Wave Quantum

D-Wave Quantum Inc. specializes in developing and delivering quantum computing systems, software, and services globally. The company’s offerings include Advantage, a fifth-generation quantum computer, Ocean, a collection of open-source python tools, and Leap, a cloud-based service that allows real-time access to a live quantum computer. This service provides users access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, and various learning resources, fostering a vibrant developer community.

D-Wave, Stock, Sell