The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. D-Wave Quantum Inc shares valued at $62,887 were sold by Michael Emil on Jun 04 ’24. At $1.26 per share, Michael Emil sold 49,910 shares. The insider’s holdings dropped to 887,138 shares worth approximately $2.63 million following the completion of this transaction.
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Also, Michael Emil sold 36,353 shares, netting a total of over 47,379 in proceeds. Following the sale of shares at $1.30 each, the insider now holds 962,723 shares.
Before that, Michael Emil had sold 25,675 shares from its account. In a trade valued at $34,761, the Director traded D-Wave Quantum Inc shares for $1.35 each. Upon closing the transaction, the insider’s holdings decreased to 25,675 shares, worth approximately $2.78 million.
As published in their initiating research note from B. Riley Securities on July 25, 2024, D-Wave Quantum Inc [QBTS] has been a Buy and the price target has been revised to $3. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in early April. As of October 19, 2022, Piper Sandler has initiated its “an Overweight” rating for QBTS. Earlier on August 30, 2022, ROTH Capital initiated its rating. Their recommendation was “a Buy” for QBTS stock.
Analyzing QBTS Stock Performance
During the last five days, there has been a surge of approximately 10.00%. Over the course of the year, D-Wave Quantum Inc shares have jumped approximately 237.46%. Shares of the company reached a 52-week high of $3.77 on 11/25/24 and a 52-week low of $0.68 on 01/19/24. A 50-day SMA is recorded $1.47, while a 200-day SMA reached $1.37. Nevertheless, trading volume fell to 28.3 million shares from 32.25 million shares the previous day.
Support And Resistance Levels for D-Wave Quantum Inc (QBTS)
According to the 24-hour chart, there is a support level at 2.81, which, if violated, would cause prices to drop to 2.65. In the upper region, resistance lies at 3.22. The next price resistance is at 3.48. RSI (Relative Strength Index) is 70.80 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.54, which suggests the price will decrease in the coming days. Percent R is at 33.97%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
