D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) Director John Dilullo sold 7,850 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $24.43, for a total transaction of $191,775.50. Following the transaction, the director owned 21,310 shares of the company's stock, valued at approximately $520,603.30. The trade was a 26.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
D-Wave Quantum Stock Performance
Shares of QBTS stock opened at $25.74 on Tuesday. The company has a current ratio of 21.41, a quick ratio of 21.31 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $20.92 and a 200 day moving average price of $22.22. The company has a market cap of $9.52 billion, a P/E ratio of -22.78 and a beta of 2.05. D-Wave Quantum Inc. has a 12 month low of $12.75 and a 12 month high of $46.75.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. D-Wave Quantum had a negative net margin of 2,957.23% and a negative return on equity of 44.06%. The firm had revenue of $2.86 million during the quarter, compared to analysts' expectations of $4.19 million. During the same period in the previous year, the company earned ($0.02) earnings per share. D-Wave Quantum's quarterly revenue was down 80.9% compared to the same quarter last year. Sell-side analysts predict that D-Wave Quantum Inc. will post -0.43 earnings per share for the current fiscal year.
Institutional Investors Weigh In On D-Wave Quantum
Institutional investors and hedge funds have recently made changes to their positions in the business. Root Financial Partners LLC raised its holdings 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 during the last quarter. Parallel Advisors LLC raised its holdings 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 during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in shares of D-Wave Quantum in the fourth quarter valued at about $28,000. PeakShares LLC purchased a new stake in shares of D-Wave Quantum in the first quarter valued at about $29,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of D-Wave Quantum by 267.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,151 shares of the company's stock valued at $30,000 after buying an additional 838 shares during the last quarter. 42.47% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on QBTS. Canaccord Genuity Group reduced their price target on shares of D-Wave Quantum from $43.00 to $41.00 and set a "buy" rating for the company in a research report on Wednesday, May 13th. B. Riley Financial boosted their price target on shares of D-Wave Quantum from $36.00 to $40.00 and gave the company a "buy" rating in a research report on Tuesday, June 2nd. Weiss Ratings cut shares of D-Wave Quantum from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 29th. Rosenblatt Securities reissued a "buy" rating and issued a $43.00 price target on shares of D-Wave Quantum in a research report on Tuesday, June 2nd. Finally, TD Cowen began coverage on shares of D-Wave Quantum in a research report on Thursday, February 12th. They issued a "buy" rating for the company. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.40.
View Our Latest Report on QBTS
About D-Wave Quantum
(
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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