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), sold 8,372 shares of the company's stock on January 23rd. The shares were sold at an average price of $5.27, leading to a total transaction value of $44,120.44. After this sale, Baratz now holds 2,342,208 shares of D-Wave, which have a total value of approximately $12,343,436.16. This sale represents a 0.36% decrease in his ownership stake in the company. The transaction has been reported in a filing with the Securities and Exchange Commission (SEC), which can be found on the SEC website.

On January 23rd, D-Wave Quantum's stock experienced a decline of 8.5%. During trading, shares of QBTS fell by $0.52, bringing the stock price down to $5.58. A total of 75,499,310 shares were traded that day, which is lower than the company's average trading volume of 113,283,000 shares. The company’s fifty-day moving average stands at $5.65, while its 200-day moving average is at $2.67. Over the past year, D-Wave Quantum's stock reached a low of $0.75 and a high of $11.41. The company's market capitalization is $1.50 billion, with a price-to-earnings (P/E) ratio of -13.27 and a beta of 1.16.

Updates from Institutional Investors

Recently, institutional investors and hedge funds have been active in the market for D-Wave Quantum shares. SG Americas Securities LLC established a new position valued at $42,000 in the third quarter. Meanwhile, Bogart Wealth LLC also acquired a new position in the company worth $49,000 during the same period. Additionally, Spire Wealth Management bought a new stake estimated at $90,000 in the fourth quarter. Rhumbline Advisers entered the market with a new investment worth about $93,000 in the second quarter. Barclays PLC significantly increased its holdings in D-Wave by 298.3% in the third quarter, now owning 120,029 shares valued at $117,000 after acquiring an additional 89,894 shares. Collectively, institutional investors and hedge funds currently hold 42.47% of the company’s total shares.

Analyst Ratings and Predictions

Several analysts have recently changed their ratings for D-Wave Quantum. Craig Hallum raised its price target for the stock from $2.50 to $9.00, maintaining a ‘buy’ rating as of December 20th. Benchmark reaffirmed a ‘buy’ rating and set a target price of $8.00 on January 14th. Roth MKM increased its target from $3.00 to $7.00 while keeping a ‘buy’ rating on December 12th. B. Riley also increased its price target for the shares from $4.50 to $9.00, giving it a ‘buy’ rating on January 14th. Additionally, Needham & Company reissued a ‘buy’ rating with a price target of $2.25 on November 15th. Overall, six investment analysts have given D-Wave Quantum a ‘buy’ rating, which translates to an average rating of ‘Buy’ and an average price target of $6.38 according to MarketBeat.com.

D-Wave Quantum Inc. is a key player in the quantum computing industry, developing and offering quantum computing systems, software, and services on a global scale. Their offerings include Advantage, a fifth-generation quantum computer, Ocean, a suite of open-source Python tools, and Leap, which is a cloud-based service for real-time access to quantum computing.

D-Wave, Baratz, Shares