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QBTS (D-Wave Quantum Inc) may reap gains as insiders became active recently

D-Wave Quantum Inc’s filing revealed that its Director Michael Emil unloaded Company’s shares for reported $62887.0 on Jun 04 ’24. In the deal valued at $1.26 per share,49,910 shares were sold. As a result of this transaction, Michael Emil now holds 887,138 shares worth roughly $0.99 million.

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Then, Michael Emil sold 25,675 shares, generating $34,761 in total proceeds. Upon selling the shares at $1.35, the Director now owns 937,048 shares.

Before that, Michael Emil sold 36,353 shares. D-Wave Quantum Inc shares valued at $47,379 were divested by the Director at a price of $1.30 per share. As a result of the transaction, Michael Emil now holds 962,723 shares, worth roughly $1.08 million.

Needham initiated its D-Wave Quantum Inc [QBTS] rating to a Buy in a research note published on April 08, 2024; the price target was $2.50. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who began to cover the stock in mid October with a ‘”an Overweight”‘ rating. ROTH Capital began covering QBTS with “Buy” recommendation on August 30, 2022.

Price Performance Review of QBTS

On Tuesday, D-Wave Quantum Inc [NYSE:QBTS] saw its stock fall -9.68% to $1.12. Over the last five days, the stock has gained 3.70%. D-Wave Quantum Inc shares have risen nearly 27.26% since the year began. Nevertheless, the stocks have fallen -39.78% over the past one year. While a 52-week high of $3.20 was reached on 03/13/24, a 52-week low of $0.57 was recorded on 01/19/24. SMA at 50 days reached $1.2530, while 200 days put it at $1.2188. A total of 5.16 million shares were traded, compared to the trading of 7.71 million shares in the previous session.

Levels Of Support And Resistance For QBTS Stock

The 24-hour chart illustrates a support level at 1.0533, which if violated will result in even more drops to 0.9867. On the upside, there is a resistance level at 1.2333. A further resistance level may holdings at 1.3467. The Relative Strength Index (RSI) on the 14-day chart is 45.16, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0262, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.81%. Stochastics%K at 45.22% indicates the stock is a holding.

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