D-Wave Quantum (NYSE:QBTS) Given New $10.00 Price Target at Roth Mkm

D-Wave Quantum (NYSE:QBTS) had its price target raised by Roth Mkm from $7.00 to $10.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.50 price target on shares of D-Wave Quantum in a report on Friday. Craig Hallum boosted their target price on D-Wave Quantum from $2.50 to $9.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Benchmark reissued a “buy” rating and issued a $8.00 price target on shares of D-Wave Quantum in a research note on Friday. Finally, B. Riley boosted their price objective on D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Friday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $8.42.

D-Wave Quantum Price Performance

Shares of QBTS opened at $10.19 on Friday. D-Wave Quantum has a 12-month low of $0.75 and a 12-month high of $11.41. The stock has a market capitalization of $2.74 billion, a P/E ratio of -24.25 and a beta of 1.12. The firm’s 50 day moving average is $6.07 and its 200-day moving average is $3.91.

Insider Activity at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 5,582 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $5.27, for a total value of $29,417.14. Following the completion of the sale, the chief financial officer now owns 1,064,556 shares in the company, valued at $5,610,210.12. This represents a 0.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alan E. Baratz sold 8,372 shares of the business’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 transaction, the chief executive officer now owns 2,342,208 shares in the company, valued at approximately $12,343,436.16. This represents a 0.36 % decrease in their ownership of the stock. 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. Company insiders own 7.22% of the company’s stock.

Institutional Investors Weigh In On D-Wave Quantum

Several institutional investors have recently made changes to their positions in QBTS. Summit Investment Advisors Inc. increased its holdings in D-Wave Quantum by 20.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 10,347 shares of the company’s stock worth $87,000 after buying an additional 1,766 shares during the last quarter. Invesco Ltd. increased its stake in shares of D-Wave Quantum by 5.1% during the 4th quarter. Invesco Ltd. now owns 42,619 shares of the company’s stock worth $358,000 after purchasing an additional 2,051 shares during the last quarter. Corebridge Financial Inc. raised its holdings in shares of D-Wave Quantum by 5.0% during the 4th quarter. Corebridge Financial Inc. now owns 49,174 shares of the company’s stock valued at $413,000 after purchasing an additional 2,342 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of D-Wave Quantum during the 4th quarter valued at $26,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of D-Wave Quantum by 38.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,060 shares of the company’s stock valued at $110,000 after purchasing an additional 3,660 shares during the last quarter. 42.47% of the stock is currently 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.