CFO John M. Markovich of D-Wave Quantum Inc. Sells Shares

D-Wave Quantum Inc. (NYSE:QBTS) recently saw its Chief Financial Officer, John M. Markovich, sell 5,582 shares of the company. This transaction took place on Thursday, January 23rd. The shares were sold at an average price of $5.27 each, leading to a total of $29,417.14 for the sale.

After executing this sale, Markovich retains ownership of 1,064,556 shares in D-Wave Quantum, which are currently valued at approximately $5,610,210.12. This transaction reflects a 0.52% decrease in his ownership position in the company. The sale has been officially disclosed in a filing with the SEC, which can be accessed through the SEC’s website.

D-Wave Quantum Shares Trending Downward

Recently, shares of D-Wave Quantum fell by 8.5%, dropping $0.52 to a price of $5.58. During this session, a total of 75,499,310 shares changed hands, which is significantly lower than the average trading volume of 113,283,000 shares. D-Wave Quantum has a 50-day moving average price of $5.65 and a 200-day moving average of $2.67. Currently, the company boasts a market capitalization of approximately $1.50 billion, with a price-to-earnings ratio of -13.27 and a beta of 1.16. The stock has experienced a one-year low and high of $0.75 and $11.41, respectively.

Institutional Investors Showing Interest

A number of hedge funds and institutional investors have recently adjusted their stakes in D-Wave Quantum. For instance, Spire Wealth Management established a new position valued at about $90,000 in the fourth quarter. Strategic Advocates LLC also acquired a new position approximating $148,000 during the same period. Sonora Investment Management Group and Patriot Financial Group Insurance Agency each made significant investments, valued at $135,000 and $488,000 respectively. Finally, Flagship Harbor Advisors secured a new stake worth about $233,000. Together, institutional investors and hedge funds hold 42.47% of D-Wave’s shares.

Analysts Forecast Potential Growth

Looking forward, several analysts have updated their views on D-Wave Quantum's stock. B. Riley has raised their target price from $4.50 to $9.00 while issuing a “buy” rating on January 14th. Benchmark has reiterated a “buy” rating with a price objective of $8.00 on the same day. Craig Hallum updated their forecast, increasing the target price from $2.50 to $9.00, and gave a “buy” rating. Roth MKM also adjusted their price target from $3.00 to $7.00, maintaining a “buy” label. Needham & Company reiterated a “buy” rating with a $2.25 target set on November 15th. Overall, data from MarketBeat.com indicates that D-Wave Quantum holds an average rating of “Buy” with a projected average price target of $6.38.

About D-Wave Quantum Inc.

D-Wave Quantum Inc. specializes in developing and providing quantum computing systems, software, and services across the globe. Their offerings include Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source Python tools; and Leap, a cloud-based service that grants users real-time access to a live quantum computer. Customers engaging with Leap also gain access to Advantage, hybrid solvers, the Ocean software development kit, live code, demonstrations, learning resources, and a vibrant developer community.

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