Key Points
- D-Wave Quantum VP Sophie Ames sold 23,025 shares on May 20 at an average price of $18.98, totaling about $437,014.50. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and she still holds 596,803 shares.
- The stock has been volatile but remains elevated, opening at $25.77 and trading up 33.5% in the latest session. D-Wave has a $9.53 billion market cap, with shares ranging from a 52-week low of $12.75 to a high of $46.75.
- Investor sentiment is being supported by major government and analyst developments, including reported federal quantum-computing funding and a letter of intent for possible CHIPS Act money. Analysts still largely rate QBTS a Buy/Moderate Buy, with an average price target of $34.67.
D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) VP Sophie Ames sold 23,025 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $18.98, for a total transaction of $437,014.50. Following the completion of the sale, the vice president owned 596,803 shares in the company, valued at approximately $11,327,320.94. The trade was a 3.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
D-Wave Quantum Trading Up 33.5%
Shares of D-Wave Quantum stock opened at $25.77 on Friday. The company's fifty day simple moving average is $18.20 and its 200-day simple moving average is $22.16. The company has a market cap of $9.53 billion, a price-to-earnings ratio of -22.81 and a beta of 1.95. The company has a current ratio of 21.41, a quick ratio of 21.31 and a debt-to-equity ratio of 0.03. D-Wave Quantum Inc. has a 1 year low of $12.75 and a 1 year high of $46.75.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.03. The business had revenue of $2.86 million for the quarter, compared to the consensus estimate of $4.19 million. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. D-Wave Quantum's quarterly revenue was down 80.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.02) earnings per share. As a group, sell-side analysts expect that D-Wave Quantum Inc. will post -0.44 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have recently issued reports on QBTS. Canaccord Genuity Group lowered their price objective on shares of D-Wave Quantum from $43.00 to $41.00 and set a "buy" rating on the stock in a research note on Wednesday, May 13th. Northland Securities started coverage on D-Wave Quantum in a research report on Monday, April 20th. They issued a "market perform" rating and a $22.00 target price for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $40.00 target price on shares of D-Wave Quantum in a research report on Wednesday, May 13th. Weiss Ratings cut D-Wave Quantum from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 29th. Finally, Mizuho reduced their target price on D-Wave Quantum from $31.00 to $29.00 and set an "outperform" rating for the company in a research report on Wednesday, May 13th. Fourteen equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $34.67.
Check Out Our Latest Research Report on QBTS
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in QBTS. Vanguard Group Inc. lifted its holdings in shares of D-Wave Quantum by 41.2% during the third quarter. Vanguard Group Inc. now owns 38,454,869 shares of the company's stock valued at $950,220,000 after acquiring an additional 11,218,255 shares during the period. UBS Group AG lifted its holdings in shares of D-Wave Quantum by 541.6% during the third quarter. UBS Group AG now owns 12,089,703 shares of the company's stock valued at $298,737,000 after acquiring an additional 10,205,427 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of D-Wave Quantum by 136,842.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,194,866 shares of the company's stock valued at $83,546,000 after acquiring an additional 3,192,533 shares during the period. Clear Street Group Inc. bought a new position in shares of D-Wave Quantum during the third quarter valued at $75,344,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of D-Wave Quantum by 311.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,548,013 shares of the company's stock valued at $92,781,000 after acquiring an additional 2,685,980 shares during the period. 42.47% of the stock is owned by institutional investors.
D-Wave Quantum News Summary
Here are the key news stories impacting D-Wave Quantum this week:
- Positive Sentiment: The Trump administration reportedly committed $2 billion to quantum computing and chip-related companies, including a $100 million funding package for D-Wave, signaling major federal backing for the sector and boosting investor optimism. Article Title
- Positive Sentiment: News that D-Wave signed a letter of intent with the U.S. Department of Commerce for proposed CHIPS Act funding reinforced the idea that the company could receive a meaningful cash infusion to accelerate product development and scale its quantum efforts. Article Title
- Positive Sentiment: Sector-wide enthusiasm spread across quantum names like D-Wave after reports of the government taking equity stakes in multiple firms, lifting sentiment across the entire group and adding momentum to QBTS. Article Title
- Neutral Sentiment: There was also heavy options activity in QBTS, with traders buying far more call options than normal, suggesting speculation and continued interest in the stock.
- Negative Sentiment: One filing showed D-Wave VP Sophie C. Ames sold shares under a pre-arranged trading plan, which is a small headwind for sentiment even though it does not necessarily signal a change in fundamentals.
D-Wave Quantum Company Profile
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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.
Further Reading
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