John Dilullo Sells 7,850 Shares of D-Wave Quantum (NYSE:QBTS) Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director John Dilullo sold 7,850 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $24.43, for a total transaction of $191,775.50. Following the completion of the sale, the director directly owned 21,310 shares in the company, valued at approximately $520,603.30. This represents a 26.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Trading Up 7.9%

QBTS stock traded up $1.89 during trading on Monday, hitting $25.74. The company had a trading volume of 28,940,332 shares, compared to its average volume of 32,467,918. D-Wave Quantum Inc. has a 52-week low of $12.75 and a 52-week high of $46.75. The company has a 50 day simple moving average of $20.70 and a 200-day simple moving average of $22.20. The firm has a market capitalization of $9.52 billion, a P/E ratio of -22.78 and a beta of 2.05. The company has a quick ratio of 21.31, a current ratio of 21.41 and a debt-to-equity ratio of 0.03.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The company had revenue of $2.86 million during the quarter, compared to analyst estimates of $4.19 million. During the same quarter last year, the business posted ($0.02) EPS. The firm’s revenue for the quarter was down 80.9% on a year-over-year basis. As a group, research analysts forecast that D-Wave Quantum Inc. will post -0.43 earnings per share for the current fiscal year.

Institutional Trading of D-Wave Quantum

A number of institutional investors have recently modified their holdings of QBTS. Root Financial Partners LLC boosted its holdings in shares of D-Wave Quantum by 388.0% in the 4th quarter. Root Financial Partners LLC now owns 976 shares of the company’s stock valued at $26,000 after buying an additional 776 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of D-Wave Quantum by 545.5% in the 1st quarter. Parallel Advisors LLC now owns 1,788 shares of the company’s stock valued at $26,000 after buying an additional 1,511 shares in the last quarter. Kemnay Advisory Services Inc. bought a new stake in shares of D-Wave Quantum in the 4th quarter valued at about $28,000. PeakShares LLC bought a new stake in shares of D-Wave Quantum in the 1st quarter valued at about $29,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of D-Wave Quantum by 267.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company’s stock valued at $30,000 after buying an additional 838 shares in the last quarter. 42.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on QBTS shares. Mizuho dropped their target price on D-Wave Quantum from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Stifel Nicolaus set a $35.00 price objective on D-Wave Quantum in a research note on Tuesday, June 2nd. Northland Securities initiated coverage on D-Wave Quantum in a research report on Monday, April 20th. They set a “market perform” rating and a $22.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of D-Wave Quantum in a report on Tuesday, May 12th. Fourteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, D-Wave Quantum has an average rating of “Moderate Buy” and an average target price of $36.40.

D-Wave Quantum Company Profile

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.