Key Points
- Director sale: D‑Wave director John Dilullo sold 8,000 shares on Dec. 5 at an average of $27.36 for $218,880, reducing his stake by 22.34% to 27,803 shares valued at about $760,690.
- Institutional buying: Large investors have been accumulating shares—Vanguard boosted its position to 38.45 million shares and UBS increased holdings dramatically—leaving about 42.47% of the stock owned by institutions.
- Mixed fundamentals but bullish analyst tone: Revenue rose 105.6% to $3.74M and the company beat EPS estimates, yet it remains unprofitable (negative net margin and ROE); analysts are mostly positive with a consensus "Moderate Buy" and a consensus price target near $29.85, with several firms lifting targets into the $35–$44 range.
D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director John Dilullo sold 8,000 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $27.36, for a total value of $218,880.00. Following the transaction, the director owned 27,803 shares in the company, valued at $760,690.08. The trade was a 22.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
D-Wave Quantum Stock Performance
NYSE:QBTS opened at $28.38 on Tuesday. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05. D-Wave Quantum Inc. has a twelve month low of $3.71 and a twelve month high of $46.75. The company has a fifty day moving average of $29.67 and a 200-day moving average of $21.81. The firm has a market capitalization of $9.94 billion, a P/E ratio of -21.02 and a beta of 1.58.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted 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 net margin of 1,651.81% and a negative return on equity of 97.58%. The business had revenue of $3.74 million during the quarter, compared to analysts' expectations of $3.03 million. The firm's revenue was up 105.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current year.
Hedge Funds Weigh In On D-Wave Quantum
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in D-Wave Quantum by 41.2% during the 3rd quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company's stock worth $950,220,000 after acquiring an additional 11,218,255 shares during the last quarter. UBS Group AG raised its holdings in shares of D-Wave Quantum by 541.6% in the third quarter. UBS Group AG now owns 12,089,703 shares of the company's stock valued at $298,737,000 after purchasing an additional 10,205,427 shares during the last quarter. Marex Group plc bought a new position in shares of D-Wave Quantum during the second quarter valued at about $80,070,000. Arrowstreet Capital Limited Partnership purchased a new position in D-Wave Quantum during the second quarter worth about $45,372,000. Finally, Clear Street Group Inc. purchased a new position in D-Wave Quantum during the third quarter worth about $75,344,000. 42.47% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
QBTS has been the subject of a number of research analyst reports. Benchmark boosted their target price on D-Wave Quantum from $20.00 to $35.00 and gave the company a "buy" rating in a research report on Monday, November 10th. B. Riley raised their price objective on D-Wave Quantum from $22.00 to $33.00 and gave the company a "buy" rating in a research note on Monday, September 22nd. Rosenblatt Securities upped their target price on D-Wave Quantum from $30.00 to $40.00 and gave the stock a "buy" rating in a research report on Friday, November 7th. Evercore ISI assumed coverage on D-Wave Quantum in a report on Wednesday, December 3rd. They issued an "outperform" rating and a $44.00 target price on the stock. Finally, Cantor Fitzgerald boosted their price target on shares of D-Wave Quantum from $20.00 to $40.00 and gave the company an "overweight" rating in a research note on Friday, November 7th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.85.
View Our Latest Report on D-Wave Quantum
D-Wave Quantum Company Profile
(
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
