Key Points
- CFO John Markovich sold 98,060 shares on Nov. 13 at an average price of $23.17 for proceeds of $2,272,050.20, trimming his stake by 6.2% to 1,482,874 shares (about $34.36M); the trade was disclosed in an SEC filing.
- Shares traded at $23.53 on Friday with roughly 51M shares changing hands; the stock has a 50‑day MA of $29.17, 200‑day MA of $20.23, a market cap of about $8.24B, a negative P/E (-17.43), and a 52‑week range of $1.41–$46.75.
- D‑Wave beat Q3 EPS estimates (reported ($0.05) vs. ($0.07) expected) and revenue rose 105.6% YoY to $3.74M; analysts are broadly positive with an average target around $28.67 and several firms raising targets into the mid‑$30s–$40s, while institutional ownership is about 42.5%.
D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CFO John Markovich sold 98,060 shares of the firm's stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $23.17, for a total transaction of $2,272,050.20. Following the sale, the chief financial officer owned 1,482,874 shares of the company's stock, valued at $34,358,190.58. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
D-Wave Quantum Stock Performance
Shares of D-Wave Quantum stock traded up $0.14 on Friday, reaching $23.53. 51,006,355 shares of the company traded hands, compared to its average volume of 51,160,600. The company has a 50 day moving average of $29.17 and a 200 day moving average of $20.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 54.68 and a quick ratio of 54.49. D-Wave Quantum Inc. has a 52 week low of $1.41 and a 52 week high of $46.75. The firm has a market capitalization of $8.24 billion, a PE ratio of -17.43 and a beta of 1.53.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.03 million. The company's revenue was up 105.6% on a year-over-year basis. Equities analysts forecast that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on QBTS shares. Williams Trading set a $35.00 target price on shares of D-Wave Quantum in a research note on Monday. Rosenblatt Securities lifted their price objective on shares of D-Wave Quantum from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, November 7th. Piper Sandler increased their target price on D-Wave Quantum from $13.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Canaccord Genuity Group lifted their price target on D-Wave Quantum from $20.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, November 7th. Finally, Roth Capital set a $40.00 target price on D-Wave Quantum in a research note on Thursday, November 6th. Eleven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $28.67.
View Our Latest Analysis on D-Wave Quantum
Hedge Funds Weigh In On D-Wave Quantum
A number of hedge funds and other institutional investors have recently modified their holdings of QBTS. Reyes Financial Architecture Inc. purchased a new position in D-Wave Quantum in the 2nd quarter worth $29,000. Atlantic Union Bankshares Corp purchased a new position in D-Wave Quantum during the second quarter valued at $29,000. Ancora Advisors LLC purchased a new position in shares of D-Wave Quantum in the third quarter worth $30,000. Financial Consulate Inc. bought a new position in D-Wave Quantum in the third quarter valued at about $31,000. Finally, Parallel Advisors LLC grew its position in D-Wave Quantum by 227.3% during the second quarter. Parallel Advisors LLC now owns 2,206 shares of the company's stock valued at $32,000 after buying an additional 1,532 shares during the period. 42.47% of the stock is currently owned by hedge funds and other institutional investors.
About D-Wave Quantum
(
Get Free Report)
D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.
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