D-Wave Quantum Inc. (NYSE:QBTS) Director Sells $950,619.24 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Kirstjen Nielsen sold 58,644 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $16.21, for a total value of $950,619.24. Following the sale, the director now owns 132,673 shares of the company’s stock, valued at $2,150,629.33. This represents a 30.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Kirstjen Nielsen also recently made the following trade(s):

• On Monday, June 16th, Kirstjen Nielsen sold 13,000 shares of D-Wave Quantum stock. The stock was sold at an average price of $16.04, for a total value of $208,520.00.

D-Wave Quantum Stock Up 5.7%

Shares of NYSE QBTS opened at $16.03 on Tuesday. The business has a fifty day simple moving average of $11.74 and a two-hundred day simple moving average of $8.40. The firm has a market cap of $4.68 billion, a PE ratio of -38.18 and a beta of 1.49. D-Wave Quantum Inc. has a twelve month low of $0.75 and a twelve month high of $19.77.

D-Wave Quantum (NYSE:QBTS) last issued its earnings results on Thursday, May 8th. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The firm had revenue of $15.00 million for the quarter, compared to the consensus estimate of $10.50 million. On average, research analysts expect that D-Wave Quantum Inc. will post -0.41 earnings per share for the current year.

Institutional Investors Weigh In On D-Wave Quantum

A number of institutional investors and hedge funds have recently bought and sold shares of QBTS. Fourth Dimension Wealth LLC bought a new stake in D-Wave Quantum during the 4th quarter valued at $26,000. PNC Financial Services Group Inc. purchased a new position in shares of D-Wave Quantum in the 4th quarter valued at $38,000. Russell Investments Group Ltd. increased its holdings in shares of D-Wave Quantum by 133.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,528 shares of the company’s stock valued at $42,000 after acquiring an additional 3,165 shares during the period. Signaturefd LLC increased its holdings in shares of D-Wave Quantum by 106.1% in the 1st quarter. Signaturefd LLC now owns 5,771 shares of the company’s stock valued at $44,000 after acquiring an additional 2,971 shares during the period. Finally, Amalgamated Bank increased its holdings in shares of D-Wave Quantum by 107.8% in the 1st quarter. Amalgamated Bank now owns 6,296 shares of the company’s stock valued at $48,000 after acquiring an additional 3,266 shares during the period. 42.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on QBTS. Roth Mkm increased their target price on D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Roth Capital reiterated a “buy” rating on shares of D-Wave Quantum in a report on Friday. B. Riley raised their price target on D-Wave Quantum from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Benchmark raised their price target on D-Wave Quantum from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Finally, Needham & Company LLC raised their price target on D-Wave Quantum from $8.50 to $13.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, D-Wave Quantum has an average rating of “Buy” and an average price target of $10.17.

About D-Wave Quantum

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.