Key Points
- CEO Alan Baratz sold 687,627 shares of D-Wave Quantum on June 8 at an average price of $26.13, totaling about $17.97 million. After the sale, he still held 3.3 million shares, but his position was reduced by 17.25%.
- QBTS shares were down 0.7% and the stock opened at $23.36, well below its 12-month high of $46.75 but above its 12-month low of $12.75. The company remains volatile, with a beta of 2.05.
- Analyst sentiment is still largely positive, with several firms reiterating Buy/Overweight ratings and targets around $40 to $43. MarketBeat data shows 14 Buy ratings versus 2 Hold and 1 Sell, with a consensus target price of $36.40.
D-Wave Quantum Inc. (NYSE:QBTS - Get Free Report) CEO Alan Baratz sold 687,627 shares of the company's stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $26.13, for a total transaction of $17,967,693.51. Following the transaction, the chief executive officer directly owned 3,299,771 shares of the company's stock, valued at approximately $86,223,016.23. This represents a 17.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
D-Wave Quantum Trading Down 0.7%
NYSE QBTS opened at $23.36 on Thursday. D-Wave Quantum Inc. has a 12 month low of $12.75 and a 12 month high of $46.75. The company has a 50-day moving average of $21.32 and a 200-day moving average of $22.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 21.41 and a quick ratio of 21.31. The company has a market cap of $8.64 billion, a P/E ratio of -20.67 and a beta of 2.05.
D-Wave Quantum (NYSE:QBTS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. The company had revenue of $2.86 million during 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%. The company's quarterly revenue was down 80.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) EPS. As a group, equities analysts predict that D-Wave Quantum Inc. will post -0.43 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms recently issued reports on QBTS. Cantor Fitzgerald reissued an "overweight" rating and set a $40.00 target price on shares of D-Wave Quantum in a research report on Wednesday, May 13th. Weiss Ratings downgraded shares of D-Wave Quantum from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 29th. B. Riley Financial increased their price objective 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. Rosenblatt Securities reiterated a "buy" rating and set a $43.00 target price on shares of D-Wave Quantum in a research note on Tuesday, June 2nd. Finally, Northland Securities began coverage on D-Wave Quantum in a research note on Monday, April 20th. They set a "market perform" rating and a $22.00 target price for the company. Fourteen analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.40.
View Our Latest Analysis on D-Wave Quantum
Key Headlines Impacting D-Wave Quantum
Here are the key news stories impacting D-Wave Quantum this week:
- Positive Sentiment: B. Riley remains bullish on D-Wave Quantum, raising its price target to $40 from $36 and keeping a Buy rating, which signals continued analyst confidence in the company’s quantum-computing story. B. Riley is Bullish on D-Wave Quantum Inc. (QBTS)
- Positive Sentiment: Several recent analyst reports still imply meaningful upside for QBTS, with some coverage citing strong potential as quantum computing attracts fresh capital and investor attention. 2 Quantum Stocks With 45%+ Upside in June as OpenAI, SpaceX Eye IPO
- Positive Sentiment: Earlier reporting highlighted that D-Wave has rewarded patient investors with large gains, reflecting continued optimism around commercialization progress and the company’s quantum roadmap. D-Wave Rewarded Patient Investors With 135% Gains but Recent Buyers Face a Brutal Reality
- Neutral Sentiment: D-Wave’s CFO John Markovich disclosed two stock sales, including a much larger sale of 50,979 shares and a smaller follow-up sale of 70 shares; while the smaller sale was minimal, insider selling can add to investor caution. John M. Markovich insider trade disclosure
- Negative Sentiment: CEO Alan Baratz sold 687,627 shares, a sizable reduction in his position that may be viewed by the market as a confidence signal against the stock. Alan E. Baratz insider trade disclosure
- Negative Sentiment: Several commentary pieces warn that D-Wave’s valuation looks stretched after the rally, with recent buyers facing more downside risk if growth milestones disappoint. D-Wave Quantum Plummeted Today -- Is the Stock a Buy Right Now?
- Negative Sentiment: Another report argues that large tech players like Intel and IBM strengthen competition in quantum computing, which could make it harder for pure-play firms like QBTS to justify premium valuations. The Case for Intel Over Pure-Play Quantum Firms (QBTS)
Institutional Investors Weigh In On D-Wave Quantum
Several large investors have recently added to or reduced their stakes in QBTS. Baird Financial Group Inc. increased its position in D-Wave Quantum by 12.0% in the first quarter. Baird Financial Group Inc. now owns 12,135 shares of the company's stock worth $92,000 after buying an additional 1,300 shares during the period. Royal Bank of Canada increased its position in D-Wave Quantum by 59.8% in the first quarter. Royal Bank of Canada now owns 162,088 shares of the company's stock worth $1,231,000 after buying an additional 60,668 shares during the period. AQR Capital Management LLC increased its position in D-Wave Quantum by 201.0% in the first quarter. AQR Capital Management LLC now owns 200,765 shares of the company's stock worth $1,526,000 after buying an additional 134,066 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in D-Wave Quantum by 93.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,572 shares of the company's stock worth $825,000 after buying an additional 52,437 shares during the period. Finally, NewEdge Advisors LLC increased its position in D-Wave Quantum by 125.7% in the first quarter. NewEdge Advisors LLC now owns 43,786 shares of the company's stock worth $333,000 after buying an additional 24,382 shares during the period. 42.47% of the stock is owned by institutional investors and hedge funds.
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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