Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. D-Wave Quantum Inc shares valued at $40,137,938 were sold by PUBLIC SECTOR PENSION INVESTME on Dec 11 ’24. At $4.32 per share, PUBLIC SECTOR PENSION INVESTME sold 9,292,600 shares. The insider’s holdings dropped to 9,437,593 shares worth approximately $60.12 million following the completion of this transaction.
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Also, PUBLIC SECTOR PENSION INVESTME sold 8,437,593 shares, netting a total of over 35,496,954 in proceeds. Following the sale of shares at $4.21 each, the insider now holds 1,000,000 shares.
Before that, PUBLIC SECTOR PENSION INVESTME had sold 643,866 shares from its account. In a trade valued at $3,134,340, the 10% Owner traded D-Wave Quantum Inc shares for $4.87 each. Upon closing the transaction, the insider’s holdings decreased to 643,866 shares, worth approximately $119.31 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 62.92%. Over the course of the year, D-Wave Quantum Inc shares have jumped approximately 623.78%. Shares of the company reached a 52-week high of $10.50 on 12/18/24 and a 52-week low of $0.68 on 01/19/24. A 50-day SMA is recorded $2.50, while a 200-day SMA reached $1.58. Nevertheless, trading volume fell to 120.56 million shares from 211.71 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 5.06, which, if violated, would cause prices to drop to 3.75. In the upper region, resistance lies at 8.53. The next price resistance is at 10.69. RSI (Relative Strength Index) is 62.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.85, which suggests the price will increase in the coming days. Percent R is at 51.63%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
