D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director Rohit Ghai sold 10,000 shares of the firm's stock in a transaction on Monday, December 15th. The shares were sold at an average price of $24.28, for a total transaction of $242,800.00. Following the completion of the transaction, the director owned 37,778 shares in the company, valued at $917,249.84. The trade was a 20.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
D-Wave Quantum Stock Performance
Shares of QBTS opened at $25.52 on Wednesday. The company has a market capitalization of $8.94 billion, a PE ratio of -18.91 and a beta of 1.58. 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 one year low of $3.74 and a one year high of $46.75. The company's fifty day moving average price is $29.18 and its 200 day moving average price is $22.19.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.02. The company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.03 million. D-Wave Quantum had a negative return on equity of 97.58% and a negative net margin of 1,651.81%.The firm's quarterly revenue was up 105.6% on a year-over-year basis. As a group, analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.
Institutional Investors Weigh In On D-Wave Quantum
Several institutional investors and hedge funds have recently bought and sold shares of QBTS. Reyes Financial Architecture Inc. bought a new position in shares of D-Wave Quantum during the 2nd quarter worth about $29,000. Atlantic Union Bankshares Corp acquired a new position in D-Wave Quantum in the second quarter worth about $29,000. Ancora Advisors LLC acquired a new position in D-Wave Quantum in the third quarter worth about $30,000. Financial Consulate Inc. bought a new position in D-Wave Quantum during the third quarter worth about $31,000. Finally, Parallel Advisors LLC raised its holdings in shares of D-Wave Quantum by 227.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,206 shares of the company's stock worth $32,000 after buying an additional 1,532 shares in the last quarter. Institutional investors own 42.47% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on QBTS shares. Roth Capital set a $40.00 price target on D-Wave Quantum in a research report on Thursday, November 6th. Wedbush assumed coverage on shares of D-Wave Quantum in a research report on Wednesday. They set an "outperform" rating on the stock. Evercore ISI assumed coverage on shares of D-Wave Quantum in a research note on Wednesday, December 3rd. They set an "outperform" rating and a $44.00 target price for the company. Mizuho assumed coverage on shares of D-Wave Quantum in a research report on Thursday, December 11th. They issued an "outperform" rating and a $46.00 price target on the stock. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of D-Wave Quantum in a report on Monday. Fifteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.93.
View Our Latest Stock Report on D-Wave Quantum
D-Wave Quantum Company Profile
(
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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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