Key Points
- D-Wave Quantum CFO John Markovich sold 2,908 shares on June 2 at an average price of $31.00, totaling about $90,148. After the sale, he still owned 1,439,912 shares valued at roughly $44.6 million.
- The stock has attracted mostly bullish analyst sentiment, with 14 Buy ratings, 2 Holds, and 1 Sell. Analysts’ consensus target price is $36.40, above the recent trading level.
- Despite the insider sale, the company’s recent earnings showed a mixed picture: D-Wave beat EPS expectations but missed revenue estimates, and its revenue fell sharply year over year. The stock also remains highly volatile, trading well below its 52-week high.
D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CFO John Markovich sold 2,908 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $31.00, for a total value of $90,148.00. Following the completion of the sale, the chief financial officer directly owned 1,439,912 shares of the company's stock, valued at $44,637,272. The trade was a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
D-Wave Quantum Price Performance
QBTS stock opened at $27.68 on Friday. The company has a market capitalization of $10.24 billion, a P/E ratio of -24.50 and a beta of 2.05. D-Wave Quantum Inc. has a twelve month low of $12.75 and a twelve month high of $46.75. The business has a 50 day simple moving average of $20.55 and a 200-day simple moving average of $22.19. 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 (NYSE:QBTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $2.86 million during the quarter, compared to the consensus estimate of $4.19 million. D-Wave Quantum had a negative return on equity of 44.06% and a negative net margin of 2,957.23%.The company's revenue was down 80.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) earnings per share. As a group, equities analysts anticipate that D-Wave Quantum Inc. will post -0.43 EPS for the current year.
Analysts Set New Price Targets
QBTS has been the subject of several analyst reports. Zacks Research upgraded D-Wave Quantum from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 28th. Roth Mkm upped their price target on D-Wave Quantum from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday. Jefferies Financial Group restated a "buy" rating on shares of D-Wave Quantum in a research note on Tuesday, May 12th. Stifel Nicolaus set a $35.00 price target on D-Wave Quantum in a research note on Tuesday. Finally, TD Cowen initiated coverage on D-Wave Quantum in a research note on Thursday, February 12th. They set a "buy" rating for the company. Fourteen equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, D-Wave Quantum has an average rating of "Moderate Buy" and a consensus target price of $36.40.
Get Our Latest Analysis on D-Wave Quantum
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of QBTS. Parallel Advisors LLC increased its position in shares of D-Wave Quantum by 545.5% in the first quarter. Parallel Advisors LLC now owns 1,788 shares of the company's stock valued at $26,000 after buying an additional 1,511 shares in the last quarter. Optiver Holding B.V. boosted its stake in D-Wave Quantum by 448.0% in the 1st quarter. Optiver Holding B.V. now owns 24,697 shares of the company's stock worth $356,000 after buying an additional 20,190 shares during the last quarter. Western Wealth Management LLC acquired a new stake in D-Wave Quantum in the 1st quarter worth about $51,000. Bank of America Corp DE lifted its stake in shares of D-Wave Quantum by 10.5% in the 1st quarter. Bank of America Corp DE now owns 3,886,036 shares of the company's stock valued at $56,075,000 after purchasing an additional 368,486 shares in the last quarter. Finally, Encore Global Management LP acquired a new position in shares of D-Wave Quantum in the 1st quarter valued at about $433,000. Hedge funds and other institutional investors own 42.47% of the company's stock.
D-Wave Quantum News Summary
Here are the key news stories impacting D-Wave Quantum this week:
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.
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