D-Wave Quantum Inc. (NYSE:QBTS) Director Rohit Ghai Sells 43,517 Shares of Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Rohit Ghai sold 43,517 shares of the company’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.80, for a total transaction of $731,085.60. Following the transaction, the director now owns 57,778 shares of the company’s stock, valued at approximately $970,670.40. This represents a 42.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

D-Wave Quantum Price Performance

QBTS stock opened at $15.54 on Wednesday. The company has a market capitalization of $4.54 billion, a P/E ratio of -25.91 and a beta of 1.49. The company has a fifty day moving average price of $11.90 and a 200-day moving average price of $8.45. The company has a debt-to-equity ratio of 0.15, a quick ratio of 20.61 and a current ratio of 20.73. D-Wave Quantum Inc. has a 52-week low of $0.75 and a 52-week high of $19.77.

D-Wave Quantum (NYSE:QBTS) last posted its quarterly earnings data 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 business had revenue of $15.00 million during the quarter, compared to the consensus estimate of $10.50 million. D-Wave Quantum had a negative return on equity of 227.95% and a negative net margin of 617.84%. As a group, equities analysts expect that D-Wave Quantum Inc. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on QBTS shares. Benchmark raised their target price on shares of D-Wave Quantum from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. B. Riley increased their price target on D-Wave Quantum from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Needham & Company LLC raised their price objective on D-Wave Quantum from $8.50 to $13.00 and gave the company a “buy” rating in a report on Friday, May 9th. Roth Capital restated a “buy” rating on shares of D-Wave Quantum in a research report on Friday. Finally, Roth Mkm upped their target price on D-Wave Quantum from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, D-Wave Quantum has an average rating of “Buy” and a consensus target price of $11.17.

Institutional Investors Weigh In On D-Wave Quantum

A number of institutional investors have recently made changes to their positions in the stock. Vontobel Holding Ltd. bought a new position in shares of D-Wave Quantum during the fourth quarter worth about $105,000. Rhumbline Advisers boosted its holdings in D-Wave Quantum by 75.6% in the fourth quarter. Rhumbline Advisers now owns 133,405 shares of the company’s stock valued at $1,121,000 after acquiring an additional 57,438 shares during the last quarter. Truist Financial Corp acquired a new stake in D-Wave Quantum during the 4th quarter valued at approximately $108,000. Global Retirement Partners LLC bought a new position in D-Wave Quantum during the 4th quarter worth approximately $169,000. Finally, Private Advisor Group LLC bought a new position in D-Wave Quantum during the 4th quarter worth approximately $628,000. Institutional investors own 42.47% of the company’s stock.

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.