Insider Selling: D-Wave Quantum (NYSE:QBTS) Director Sells 13,518 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Rohit Ghai sold 13,518 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $26.41, for a total transaction of $357,010.38. Following the completion of the transaction, the director owned 23,617 shares of the company’s stock, valued at $623,724.97. This trade represents a 36.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D-Wave Quantum Stock Down 9.0%

Shares of QBTS stock traded down $2.35 on Tuesday, hitting $23.91. The stock had a trading volume of 29,339,334 shares, compared to its average volume of 32,392,406. D-Wave Quantum Inc. has a 52-week low of $12.75 and a 52-week high of $46.75. The company has a debt-to-equity ratio of 0.03, a quick ratio of 21.31 and a current ratio of 21.41. The firm has a market capitalization of $8.84 billion, a price-to-earnings ratio of -21.16 and a beta of 2.05. The stock’s 50 day moving average is $21.95 and its 200-day moving average is $22.29.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) EPS 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 firm had revenue of $2.86 million for the quarter, compared to the consensus estimate of $4.19 million. During the same period in the prior year, the firm posted ($0.02) EPS. The firm’s revenue was down 80.9% compared to the same quarter last year. As a group, research analysts expect that D-Wave Quantum Inc. will post -0.43 earnings per share for the current year.

Key D-Wave Quantum News

Here are the key news stories impacting D-Wave Quantum this week:

• Positive Sentiment: Analyst-day momentum and a higher price target from Mizuho helped reinforce optimism around D-Wave’s updated roadmap and longer-term commercialization plans for fault-tolerant quantum computing. D-Wave Quantum jumps as Mizuho ups price target after analyst day
• Positive Sentiment: Several articles highlighted D-Wave as a leading pure-play quantum name, with upbeat commentary on its gate-model roadmap and bullish technical setups, supporting investor interest in the stock. D-Wave Quantum (QBTS) Inspires Confidence With Latest Gate-Model Roadmap
• Neutral Sentiment: Monday’s broader “risk-on” rally lifted QBTS along with other quantum stocks, but that move appears to be unwinding as traders take profits and the sector gives back some of its gains. IonQ, Rigetti, D-Wave, and Quantum Computing Inc. All Fall 5% to 7% as the Quantum Rally Reverses
• Neutral Sentiment: Some coverage emphasized that D-Wave remains one of the key names in quantum computing, but also noted a competitive landscape and insider selling that could keep sentiment volatile. Can D-Wave Hold Its Own Against 2 Fast-Growing Rivals?
• Negative Sentiment: Fresh commentary focused on valuation risk, saying QBTS is being compared to “the NVIDIA of quantum computing” while also warning that the stock’s rich valuation leaves little room for execution missteps. Is QBTS the NVIDIA of Quantum Computing or is it Overvalued?

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of D-Wave Quantum by 41.2% in the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company’s stock worth $950,220,000 after buying an additional 11,218,255 shares during the last quarter. UBS Group AG lifted its position in shares of D-Wave Quantum by 541.6% in the 3rd quarter. UBS Group AG now owns 12,089,703 shares of the company’s stock worth $298,737,000 after buying an additional 10,205,427 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of D-Wave Quantum by 11.5% in the 4th quarter. Geode Capital Management LLC now owns 8,394,726 shares of the company’s stock worth $220,085,000 after buying an additional 866,405 shares during the last quarter. State Street Corp increased its holdings in shares of D-Wave Quantum by 5.3% in the 4th quarter. State Street Corp now owns 7,707,085 shares of the company’s stock worth $201,540,000 after acquiring an additional 385,809 shares during the period. Finally, Marex Group plc increased its holdings in shares of D-Wave Quantum by 74.9% in the 4th quarter. Marex Group plc now owns 4,592,656 shares of the company’s stock worth $120,098,000 after acquiring an additional 1,966,500 shares during the period. 42.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $40.00 price objective on shares of D-Wave Quantum in a research note on Wednesday, May 13th. Rosenblatt Securities reiterated a “buy” rating and set a $43.00 price objective on shares of D-Wave Quantum in a research note on Thursday, June 11th. Canaccord Genuity Group reduced their price objective on shares of D-Wave Quantum from $43.00 to $41.00 and set a “buy” rating on the stock in a research note on Wednesday, May 13th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Finally, Zacks Research upgraded shares of D-Wave Quantum from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

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.