Key Points
- Director John Dilullo sold 8,000 shares on March 5 at an average price of $18.01 for proceeds of $144,080, reducing his stake to 19,803 shares (a 28.77% decrease).
- D-Wave missed quarterly expectations, reporting ($0.09) EPS vs. a ($0.05) estimate and $2.75M revenue vs. $3.74M expected, with a deeply negative net margin (1,444.10%) despite 21.7% year-over-year revenue growth.
- The stock traded around $18.62 (market cap ~$6.89B) and carries a consensus rating of "Moderate Buy" with a $36.50 average price target (14 Buys, 1 Hold, 1 Sell).
D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director John Dilullo sold 8,000 shares of the business's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $18.01, for a total transaction of $144,080.00. Following the transaction, the director owned 19,803 shares of the company's stock, valued at $356,652.03. This represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
D-Wave Quantum Stock Performance
NYSE:QBTS traded down $0.21 during mid-day trading on Friday, hitting $18.62. The company's stock had a trading volume of 27,180,057 shares, compared to its average volume of 23,792,158. The business's fifty day moving average is $23.27 and its two-hundred day moving average is $24.93. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of -16.93 and a beta of 1.61. The company has a debt-to-equity ratio of 0.04, a current ratio of 42.38 and a quick ratio of 54.49. D-Wave Quantum Inc. has a 1 year low of $4.49 and a 1 year high of $46.75.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $2.75 million for the quarter, compared to analysts' expectations of $3.74 million. D-Wave Quantum had a negative net margin of 1,444.10% and a negative return on equity of 58.58%. The company's quarterly revenue was up 21.7% on a year-over-year basis. Analysts anticipate that D-Wave Quantum Inc. will post -0.41 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on QBTS. Cantor Fitzgerald boosted their price target on D-Wave Quantum from $20.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, November 7th. Canaccord Genuity Group set a $43.00 price objective on shares of D-Wave Quantum in a research note on Thursday, January 29th. Benchmark reaffirmed a "buy" rating and set a $35.00 target price on shares of D-Wave Quantum in a report on Friday, January 23rd. Roth Mkm lowered their price target on shares of D-Wave Quantum from $40.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Finally, Mizuho dropped their price target on shares of D-Wave Quantum from $46.00 to $40.00 and set an "outperform" rating on the stock in a research report on Friday, February 27th. Fourteen 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.50.
Read Our Latest Stock Report on D-Wave Quantum
Institutional Trading of D-Wave Quantum
Several institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC increased its position in shares of D-Wave Quantum by 388.0% in the fourth quarter. Root Financial Partners LLC now owns 976 shares of the company's stock valued at $26,000 after buying an additional 776 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in shares of D-Wave Quantum during the 4th quarter valued at approximately $28,000. Atlantic Union Bankshares Corp acquired a new stake in D-Wave Quantum in the 2nd quarter valued at $29,000. EverSource Wealth Advisors LLC grew its stake in D-Wave Quantum by 267.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company's stock valued at $30,000 after acquiring an additional 838 shares during the period. Finally, Ancora Advisors LLC purchased a new stake in D-Wave Quantum in the 3rd quarter worth $30,000. 42.47% of the stock is owned by institutional investors and hedge funds.
D-Wave Quantum Company Profile
(
Get Free Report)
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.
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