D-Wave Quantum (NYSE:QBTS) Shares Down 8.2% – Time to Sell?

Shares of D-Wave Quantum Inc. (NYSE:QBTS) fell 8.2% on Friday . The stock traded as low as $24.77 and last traded at $25.2750. 33,345,380 shares were traded during mid-day trading, a decline of 45% from the average session volume of 60,273,086 shares. The stock had previously closed at $27.52.

Analyst Upgrades and Downgrades

QBTS has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on D-Wave Quantum in a research report on Tuesday, December 16th. They issued a “buy” rating and a $45.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a report on Monday. Wall Street Zen downgraded shares of D-Wave Quantum from a “hold” rating to a “sell” rating in a research report on Saturday, December 20th. Benchmark increased their price target on D-Wave Quantum from $20.00 to $35.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, B. Riley lifted their price objective on D-Wave Quantum from $22.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Fourteen equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $33.67.

D-Wave Quantum Trading Down 8.2%

The company has a market capitalization of $8.85 billion, a P/E ratio of -18.72 and a beta of 1.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 54.49 and a current ratio of 54.68. The stock has a fifty day moving average of $27.60 and a 200 day moving average of $22.61.

D-Wave Quantum (NYSE:QBTS) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The business had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.03 million. The company’s revenue was up 105.6% on a year-over-year basis. As a group, equities research analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at D-Wave Quantum

In other D-Wave Quantum news, CFO John M. Markovich sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $22.94, for a total value of $4,588,000.00. Following the completion of the transaction, the chief financial officer directly owned 1,482,874 shares in the company, valued at $34,017,129.56. This represents a 11.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Alan E. Baratz sold 806,288 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $28.87, for a total transaction of $23,277,534.56. Following the completion of the sale, the chief executive officer directly owned 2,801,265 shares of the company’s stock, valued at approximately $80,872,520.55. This trade represents a 22.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,342,087 shares of company stock valued at $66,073,024 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of D-Wave Quantum

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in D-Wave Quantum by 34.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,874 shares of the company’s stock worth $46,000 after purchasing an additional 482 shares during the period. Blue Bell Private Wealth Management LLC lifted its holdings in shares of D-Wave Quantum by 5.3% in the third quarter. Blue Bell Private Wealth Management LLC now owns 9,901 shares of the company’s stock worth $245,000 after buying an additional 500 shares in the last quarter. Huntington National Bank boosted its position in shares of D-Wave Quantum by 17.9% during the third quarter. Huntington National Bank now owns 3,300 shares of the company’s stock worth $82,000 after acquiring an additional 500 shares during the last quarter. bLong Financial LLC grew its stake in D-Wave Quantum by 2.3% during the second quarter. bLong Financial LLC now owns 24,643 shares of the company’s stock valued at $361,000 after acquiring an additional 551 shares in the last quarter. Finally, Comerica Bank grew its stake in D-Wave Quantum by 1.8% during the third quarter. Comerica Bank now owns 36,443 shares of the company’s stock valued at $901,000 after acquiring an additional 643 shares in the last quarter. Institutional investors own 42.47% of the company’s stock.

About D-Wave Quantum

D-Wave Quantum Inc (NYSE: QBTS) develops and provides quantum computing systems, software and services focused on quantum annealing technology. Headquartered in Burnaby, British Columbia, D-Wave designs specialized processors that leverage quantum mechanics to solve complex optimization and sampling problems. Since its founding in 1999 by physicists including Geordie Rose, the company has pursued the development of commercially viable quantum hardware and accompanying software tools.

The company’s product portfolio centers on its quantum annealers, which are complemented by hybrid solvers that integrate classical and quantum computing resources.