D-Wave Quantum (NYSE:QBTS) Director Sells $144,080.00 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director John Dilullo sold 8,000 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $18.01, for a total transaction of $144,080.00. Following the completion of the sale, the director directly owned 19,803 shares of the company’s stock, valued at $356,652.03. The trade was a 28.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

D-Wave Quantum Stock Performance

Shares of QBTS stock opened at $18.62 on Monday. The company has a current ratio of 42.38, a quick ratio of 42.25 and a debt-to-equity ratio of 0.04. The company has a market cap of $6.89 billion, a PE ratio of -16.93 and a beta of 1.61. The company’s fifty day simple moving average is $23.27 and its 200-day simple moving average is $25.07. D-Wave Quantum Inc. has a 52 week low of $4.49 and a 52 week high of $46.75.

D-Wave Quantum (NYSE:QBTS) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). D-Wave Quantum had a negative return on equity of 58.58% and a negative net margin of 1,444.10%.The business had revenue of $2.75 million for the quarter, compared to analysts’ expectations of $3.74 million. The firm’s revenue for the quarter was up 21.7% 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 year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on QBTS. Canaccord Genuity Group set a $43.00 target price on D-Wave Quantum in a research report on Thursday, January 29th. Benchmark reiterated a “buy” rating and set a $35.00 target price on shares of D-Wave Quantum in a report on Friday, January 23rd. Wedbush assumed coverage on D-Wave Quantum in a research report on Wednesday, December 17th. They set an “outperform” rating and a $35.00 price target on the stock. Needham & Company LLC decreased their price target on D-Wave Quantum from $48.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Williams Trading set a $35.00 price objective on shares of D-Wave Quantum in a research report on Monday, November 10th. Fourteen investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.50.

Institutional Trading of D-Wave Quantum

Several hedge funds and other institutional investors have recently bought and sold shares of QBTS. Baird Financial Group Inc. lifted its holdings in D-Wave Quantum by 12.0% during the 1st quarter. Baird Financial Group Inc. now owns 12,135 shares of the company’s stock worth $92,000 after buying an additional 1,300 shares during the last quarter. Royal Bank of Canada grew its position in shares of D-Wave Quantum by 59.8% in the 1st quarter. Royal Bank of Canada now owns 162,088 shares of the company’s stock worth $1,231,000 after acquiring an additional 60,668 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of D-Wave Quantum by 201.0% in the 1st quarter. AQR Capital Management LLC now owns 200,765 shares of the company’s stock valued at $1,526,000 after acquiring an additional 134,066 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of D-Wave Quantum by 93.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company’s stock valued at $825,000 after acquiring an additional 52,437 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of D-Wave Quantum by 125.7% during the 1st quarter. NewEdge Advisors LLC now owns 43,786 shares of the company’s stock valued at $333,000 after acquiring an additional 24,382 shares in the last quarter. 42.47% of the stock is owned by institutional investors.

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.