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 $6,678,200 were sold by PUBLIC SECTOR PENSION INVESTME on Dec 20 ’24. At $6.68 per share, PUBLIC SECTOR PENSION INVESTME sold 1,000,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, PUBLIC SECTOR PENSION INVESTME purchased 1,000,000 shares, netting a total of over 6,370,000 in proceeds.
Before that, PUBLIC SECTOR PENSION INVESTME had sold 9,292,600 shares from its account. In a trade valued at $40,137,938, the 10% Owner traded D-Wave Quantum Inc shares for $4.32 each. Upon closing the transaction, the insider’s holdings decreased to 9,292,600 shares, worth approximately $75.03 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 drop of approximately -5.83%. Over the course of the year, D-Wave Quantum Inc shares have jumped approximately 798.75%. 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 $2.89, while a 200-day SMA reached $1.67. Nevertheless, trading volume fell to 51.43 million shares from 100.89 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 7.56, which, if violated, would cause prices to drop to 7.16. In the upper region, resistance lies at 8.45. The next price resistance is at 8.94. RSI (Relative Strength Index) is 67.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.46, which suggests the price will increase in the coming days. Percent R is at 33.46%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
